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

Yong Sung 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 Jan 1

Fingerprint

unemployment rate
Korea
interpretation
trend
time series
unemployment
Matching model
Unemployment rate
Reallocation
Natural rate of unemployment
Micro data
Sectoral shifts
Factors

All Science Journal Classification (ASJC) codes

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

Cite this

Chang, Yong Sung ; Nam, Jaeryang ; Rhee, Changyong. / Trends in unemployment rates in Korea : A search-matching model interpretation. In: Journal of the Japanese and International Economies. 2004 ; Vol. 18, No. 2. pp. 241-263.
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Trends in unemployment rates in Korea : A search-matching model interpretation. / Chang, Yong Sung; Nam, Jaeryang; Rhee, Changyong.

In: Journal of the Japanese and International Economies, Vol. 18, No. 2, 01.01.2004, p. 241-263.

Research output: Contribution to journalArticle

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