Technological Progress and Youth Employment in South Korea

Won Hyeok Kim, Seohyun Lee, Myungkyu Shim, Hee Seung Yang

Research output: Contribution to journalArticle

Abstract

This paper analyzes the extent to which technology progress and youth employment are related. In doing so, we divide workers into two groups–young workers and old (prime-aged) workers - and then estimate the elasticity of substitution between (physical) capital and workers à la Jaimovich et al. (2013. “The Demand for Youth: Explaining Age Differences in the Volatility of Hours.” American Economic Review 103 (7): 3022–3044) by using the Korean labour market data between 2000 and 2014. Our findings indicate that the elasticity of substitution is greater (or at least not smaller) for young workers than for old workers.

Original languageEnglish
Pages (from-to)320-333
Number of pages14
JournalGlobal Economic Review
Volume48
Issue number3
DOIs
Publication statusPublished - 2019 Jul 3

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technological progress
South Korea
worker
substitution
young worker
age difference
labor market
Workers
Youth employment
Technological progress
demand
economics
Elasticity of substitution

All Science Journal Classification (ASJC) codes

  • Business and International Management
  • Economics, Econometrics and Finance(all)
  • Political Science and International Relations

Cite this

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Technological Progress and Youth Employment in South Korea. / Kim, Won Hyeok; Lee, Seohyun; Shim, Myungkyu; Yang, Hee Seung.

In: Global Economic Review, Vol. 48, No. 3, 03.07.2019, p. 320-333.

Research output: Contribution to journalArticle

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