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Analyses Of The Relationship Between Exchange Rates And Employment In Korea

Author

Listed:
  • Wanjoong Kim

    (SK Research Institute)

Abstract

Previous studies about relationship between exchange rates and employment focus on only developed countries. But country characteristics in developing countries are different from those of developed countries. So this paper examines the relationship between two variables using 28 industry data in a developing country, Korea. The results show that generally, Korean employment responds positively to exchange rate shocks. All industries with high openness and low imported input ratio show a positive sign in employment to the shocks. Most industries showing a negative sign in the employment response to the shocks belong to industries with middle or low openness. As expected, Korea employment more responds to exchange rate shock than US employment.

Suggested Citation

  • Wanjoong Kim, 2005. "Analyses Of The Relationship Between Exchange Rates And Employment In Korea," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 30(2), pages 131-153, December.
  • Handle: RePEc:jed:journl:v:30:y:2005:i:2:p:131-153
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    File URL: http://www.jed.or.kr/full-text/30-2/J07_711.PDF
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    References listed on IDEAS

    as
    1. Pesaran, M. Hashem & Smith, Ron, 1995. "Estimating long-run relationships from dynamic heterogeneous panels," Journal of Econometrics, Elsevier, vol. 68(1), pages 79-113, July.
    2. Godfrey, Leslie G., 1998. "Hausman tests for autocorrelation in the presence of lagged dependent variables Some further results," Journal of Econometrics, Elsevier, vol. 82(2), pages 197-207, February.
    3. Andrews, Donald W K, 1993. "Tests for Parameter Instability and Structural Change with Unknown Change Point," Econometrica, Econometric Society, vol. 61(4), pages 821-856, July.
    4. Hsiao, Cheng & Hashem Pesaran, M. & Kamil Tahmiscioglu, A., 2002. "Maximum likelihood estimation of fixed effects dynamic panel data models covering short time periods," Journal of Econometrics, Elsevier, vol. 109(1), pages 107-150, July.
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    Citations

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    Cited by:

    1. Stewart Ngandu, 2008. "Exchange Rates And Employment," South African Journal of Economics, Economic Society of South Africa, vol. 76(s2), pages 205-221, August.
    2. Mourad Zmami & Ousama Ben-Salha, 2015. "Exchange rate movements and manufacturing employment in Tunisia: Do different categories of firms react similarly?," Economic Change and Restructuring, Springer, vol. 48(2), pages 137-167, May.
    3. Haroon Bhorat & Nan Tian & Mark Ellyne, 2014. "The Real Exchange Rate and Sectoral Employment in South Africa," Working Papers 201404, University of Cape Town, Development Policy Research Unit.

    More about this item

    Keywords

    Exchange Rates; Employment; Korea;

    JEL classification:

    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F3 - International Economics - - International Finance
    • F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity

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