Trends in Unemployment Rates in Korea: A Search-Matching Model Interpretation

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Trends in Unemployment Rates in Korea: A Search-Matching Model Interpretation

Author Info

Yongsung Chang (University of Pennsylvania)
Jaeryang Nam (Hanyang University)
Changyong Rhee (Seoul National University)

Additional information is available for the following registered author(s):

Yongsung Chang

Abstract

We 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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Paper provided by EconWPA in its series Labor and Demography with number 0204004.

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Date of creation: 01 May 2002
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Handle: RePEc:wpa:wuwpla:0204004

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Article
- Chang, Yongsung & Nam, Jaeryang & Rhee, Changyong, 2004. "Trends in unemployment rates in Korea: A search-matching model interpretation," Journal of the Japanese and International Economies, Elsevier, vol. 18(2), pages 241-263, June. [Downloadable!] (restricted)

Find related papers by JEL classification:
J2 - Labor and Demographic Economics - - Demand and Supply of Labor
J3 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs

This paper has been announced in the following NEP Reports:

NEP-ALL-2002-06-13 (All new papers)
NEP-LAB-2002-06-13 (Labour Economics)

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