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Licensed Unlicensed Requires Authentication Published by De Gruyter January 20, 2012

Cyclicality of Real Wages in Korea

Donggyun Shin

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.

Published Online: 2012-1-20

©2012 Walter de Gruyter GmbH & Co. KG, Berlin/Boston

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