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The B.E. Journal of Economic Analysis & Policy

Editor-in-Chief: Jürges, Hendrik / Ludwig, Sandra

Ed. by Auriol , Emmanuelle / Brunner, Johann / Fleck, Robert / Friebel, Guido / Requate, Till / Tsui, Kevin / Wichardt, Philipp / Zulehner, Christine

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Cyclicality of Real Wages in Korea

Donggyun Shin1

1Kyung Hee University,

Citation Information: The B.E. Journal of Economic Analysis & Policy. Volume 12, Issue 1, ISSN (Online) 1935-1682, DOI: 10.1515/1935-1682.3042, January 2012

Publication History

Published Online:
2012-01-20

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.

Keywords: wage cyclicality; Korea; heterogeneity

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