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Factors Related To The Risk Of A Substantial Income Decrease Between 2006 And 2008 In South Korea

Author

Listed:
  • EUNICE JIHYUN HONG

    (Korean Women’s Development Institute, 225 Jinheung-ro Eunpyeong-gu, Seoul 03367, Korea)

  • SHERMAN D. HANNA

    (Ohio State University, 1787 Neil Avenue, Columbus OH 43210, USA)

Abstract

Between 2006 and 2008, 9% of Korean households had an income decrease of 50% or more, a rate almost identical to the U.S. despite the much lower impact of the global financial crisis on Korea. We ran a logistic regression to determine factors related to the likelihood of a substantial income decrease between 2006 and 2008 for Korean households. The likelihood of a substantial decrease was low for households below the 75th percentile of 2006 income, probably due to differences in composition of income. Households with college education were less likely than those without college to have a substantial decrease.

Suggested Citation

  • Eunice Jihyun Hong & Sherman D. Hanna, 2019. "Factors Related To The Risk Of A Substantial Income Decrease Between 2006 And 2008 In South Korea," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 64(01), pages 157-173, March.
    • Handle: RePEc:wsi:serxxx:v:64:y:2019:i:01:n:s0217590817430068
    DOI: 10.1142/S0217590817430068
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    References listed on IDEAS

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