Trends in unemployment rates in Korea: A search-matching model interpretation
AbstractWe investigate the steady decline in aggregate unemployment rates in Korea since the 1960's. We argue that a pronounced decrease in the intensity of reallocation shocks, which resulted in a downward trend in the natural rate of unemployment, has been an important factor in this decline. Our claim is based on a structural search-matching model, the times series of job-separation and job-finding rates, and sectoral-shift measures that we construct from a micro data for the past three decades.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of the Japanese and International Economies.
Volume (Year): 18 (2004)
Issue (Month): 2 (June)
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Web page: http://www.elsevier.com/locate/inca/622903
Other versions of this item:
- Yongsung Chang & Jaeryang Nam & Changyong Rhee, 2002. "Trends in Unemployment Rates in Korea: A Search-Matching Model Interpretation," Labor and Demography 0204004, EconWPA.
- J2 - Labor and Demographic Economics - - Demand and Supply of Labor
- J3 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs
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