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Cyclicality of Real Wages in Korea
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Donggyun Shin
Published/Copyright:
January 20, 2012
Abstract
On the basis of the Korea Labor & Income Panel Study data over the period 1997 to 2008, this paper finds that real wages are strongly procyclical. For the same period, government-published aggregate real wages also show substantial procyclicality. Overall, measured real wage procyclicality in Korea is comparable to that in the international literature. The analysis also explores between-group heterogeneity in real wage cyclicality, such as the contrast between job changers and stayers.
Published Online: 2012-1-20
©2012 Walter de Gruyter GmbH & Co. KG, Berlin/Boston
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