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Minimum Wage and Employment Structure: Evidence from Korean Industry-Level Data (in Korean)

Author

Listed:
  • Heon Jae Song

    (School of Economics, University of Seoul)

  • Hyunjoon Lim

    (Economic Research Institute, The Bank of Korea)

  • Woori Shin

    (School of Economics, University of Seoul)

Abstract

This study analyzes the linkage between minimum wage and employment structure. As a result, rising ratio of the workers below minimum wage and who are affected by it turns out to lead to increases in the ratio of irregular workers to regular ones and wage gap between the two groups, but with only limited magnitudes. Furthermore we find that minimum wage hike negatively affects working hours and monthly wage. Although the impacts have been minimal, it is likely that the impact for this time turns out to be different from the previous cases, given the recent drastic minimum wage hike. Our study is meaningful in that we investigate empiric relationship between minimum wage and employment structure by using the data and analysis methodology differentiated from the existing research in circumstances where there is mounting concern as to the impact of rapid icreases in the minimum wage.

Suggested Citation

  • Heon Jae Song & Hyunjoon Lim & Woori Shin, 2018. "Minimum Wage and Employment Structure: Evidence from Korean Industry-Level Data (in Korean)," Working Papers 2018-41, Economic Research Institute, Bank of Korea.
    • Handle: RePEc:bok:wpaper:1841
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    More about this item

    Keywords

    Minimum wage; Workers below minimum wage; Workers affected by the minimum wage; Employment structure;
    All these keywords.

    JEL classification:

    • J08 - Labor and Demographic Economics - - General - - - Labor Economics Policies
    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
    • J38 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Public Policy

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