Trends in unemployment rates in Korea: A search-matching model interpretation

Yongsung Chang, Jaeryang Nam, Changyong Rhee

Research output: Contribution to journalArticle

3 Citations (Scopus)

Abstract

We investigate the steady decline in aggregate unemployment rates in Korea since the 1960s. 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.

Original languageEnglish
Pages (from-to)241-263
Number of pages23
JournalJournal of the Japanese and International Economies
Volume18
Issue number2
DOIs
Publication statusPublished - 2004 Jun

All Science Journal Classification (ASJC) codes

  • Finance
  • Economics and Econometrics
  • Political Science and International Relations

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