Korean Abstract: 우리 사회 인구구조의 고령화와 최근 노동시장의 변화는 소득(임금)의 변동성을 증가시키면서 불확실성을 높이는 방향으로 전개되고 있다. 본 연구는 임금불확실성이 근로자들의 후생수준을 결정하는 중요한...

Our new empirical evidence suggests that wages are substantially flexible in South Korea. In particular, our longitudinal evidence on the wage curve follows the minus-point-one rule, set up by Blanchflower and Oswald (1994) and is consistent with evidence from other countries.

This paper explains how real wages are procyclical for those who stay with the same employer. On the basis of the Panel Study of Income Dynamics data for the period of 1974-75 to 1990-91, we find that the substantial wage procyclicality among job stayers is mostly accounted for by great wage...

This paper explains how real wages are procyclical for those who stay with the same employer. On the basis of the Panel Study of Income Dynamics data for the period of 1974-75 to 1990-91, we find that the substantial wage procyclicality among job stayers is mostly accounted for by great wage...