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

Yongsung Chang; Jaeryang Nam; Changyong Rhee

doi:10.1016/S0889-1583(03)00048-0

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

Yongsung Chang, Jaeryang Nam, Changyong Rhee

Department of Economics

Research output: Contribution to journal › Article › peer-review

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 language	English
Pages (from-to)	241-263
Number of pages	23
Journal	Journal of the Japanese and International Economies
Volume	18
Issue number	2
DOIs	https://doi.org/10.1016/S0889-1583(03)00048-0
Publication status	Published - 2004 Jun

Bibliographical note

Funding Information:
We thank the ICSEAD for its financial support. The views expressed herein are those of authors and do not necessarily reflect those of the Federal Reserve Bank of Richmond or the Federal Reserve System.

All Science Journal Classification (ASJC) codes

Finance
Economics and Econometrics
Political Science and International Relations

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

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10.1016/S0889-1583(03)00048-0

Cite this

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author = "Yongsung Chang and Jaeryang Nam and Changyong Rhee",

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AU - Rhee, Changyong

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

Abstract

Bibliographical note

All Science Journal Classification (ASJC) codes

UN SDGs

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