Bonuses, Overtime, and Employment: Korea vs. Japan
This 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.
|Date of creation:||Jun 1989|
|Publication status:||published as Journal of the Japanese and International Economies, Vol.3, No. 4, pp. 424- 450, (1989).|
|Contact details of provider:|| Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.|
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- 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.
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