Bonuses, Overtime, and Employment: Korea vs. Japan
AbstractThis paper examined the bonus and wage behavior in Korea. We found that both bonuses and wages in Korea respond to economic conditions much more than their counterparts in Japan. This finding may reflect the fact that the Korean labor market is much closer to a spot market rather than a long-term contract (lifetime employment) market. Hence the bonus/wage ratio is apparently insensitive to economic conditions in Korea, unlike in Japan (Freemand and Weitzinan). When "overtime" component of the wage is separately examined, it responds to economic conditions less than bonuses but more than base wages.
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Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 3012.
Date of creation: Jun 1989
Date of revision:
Publication status: published as Journal of the Japanese and International Economies, Vol.3, No. 4, pp. 424- 450, (1989).
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Other versions of this item:
- Ito, Takatoshi & Kang, Kyoungsik, 1989. "Bonuses, overtime, and employment: Korea vs Japan," Journal of the Japanese and International Economies, Elsevier, vol. 3(4), pages 424-450, December.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Richard B. Freeman & Martin L. Weitzman, 1986.
"Bonuses and Employment in Japan,"
NBER Working Papers
1878, National Bureau of Economic Research, Inc.
- Freeman, Richard B. & Weitzman, Martin L., 1987. "Bonuses and employment in Japan," Journal of the Japanese and International Economies, Elsevier, vol. 1(2), pages 168-194, June.
- Martin L. Weitzman, 1986. "Macroeconomic Implications Of Profit Sharing," NBER Chapters, in: NBER Macroeconomics Annual 1986, Volume 1, pages 291-354 National Bureau of Economic Research, Inc.
- Collins, Susan M., 1988. "Savings and growth experiences of Korea and Japan," Journal of the Japanese and International Economies, Elsevier, vol. 2(3), pages 328-350, September.
- Frank R. Lichtenberg, 1991.
"Labor Market Institutions, Liquidity Constraints, and Macroeconomic Stability,"
NBER Working Papers
3926, National Bureau of Economic Research, Inc.
- Lichtenberg, Frank R., 1995. "Labour market institutions, liquidity constraints, and macroeconomic stability," Journal of Economic Behavior & Organization, Elsevier, vol. 28(1), pages 145-154, September.
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