• Journal of Labour Economics
• /
• v.30 no.3
• /
• pp.77-102
• /
• 2007

This paper compares income and consumption for their relative effectiveness in measuring inequality. Although income inequality has received more attention in the literature, the permanent income hypothesis links consumption to welfare more directly than income. To the extent economic agents smooth their consumptions, consumption inequality is a better indicator for an economy's welfare inequality, and it is especially so when income volatility is high. The empirical analysis in this paper indicates that the income and consumption patterns among the Korean wage/salary worker households are quite consistent with the permanent income hypothesis. Further, it is found that consumption inequality tends to be lower than income inequality, and more importantly, that the two inequalities do not always vary in the same direction. These results call for stronger emphasis on consumption inequality in inequality literature.

• Korean Journal of Social Welfare
• /
• v.55
• /
• pp.205-230
• /
• 2003

This article examines the continuity and change of Korean welfare regime during 1990s. Democracy, globalization and the financial crisis changed the landscape of Korean society as a whole and provided a catalyst for the change of the Korean welfare regime. In order to show how and what changed in Korean welfare regime, this study concentrates on the transformations of income maintenance programmes and social welfare services. The changed aspects are as follow: (1) The ratio of social expenditure to GDP has increased during 1990s and now stood at ten percent level. (2)Rather than backing up the company welfare, government strove to build and expand income maintenance devices for all citizens. (3) The poverty and inequality reduction effects of income maintenance programs are very weak in early 1990s, but they are gradually getting stronger impact on poverty and inequality. But, there are also continuance. (1) In spite of the relative development of income maintenance programs, social welfare services are still poorly designed as before. (2) The expenditure level of social welfare services shows sharp contrast to income maintenance programs and lagged behind the other OECD countries. (3) The expansion of social service sector employment are also not so salient. In 2002, social service employment is only at close to 2.5 per cent of the total employment. Accordingly, korean welfare regime is now characterized by a model which is to curb poverty and inequality by engaging in direct government provision of income maintenance programs, but refrain from expanding social service by relying on net welfare which encourage the provision of services within the family. A implication of our analysis is that the expansion of social welfare Korea saw after 1997 was not really an regime shift. According to the arguments of Peter Hall, first and second order changes in policy do not automatically lead to third order changes which imply regime shift. Policy changes which occurred during 1990s was not accompanied by a shift in policy paradigms. Family dependency in welfare is not yet changed.

• Korean Journal of Social Welfare
• /
• v.64 no.4
• /
• pp.163-188
• /
• 2012

This study examines recent trends in income inequality among the elderly in Korea. Aggregate income inequality trends are explained by examining evidence from inequality index decomposition by population subgroup and by income source. Data come from Korean Labor and Income Panel Study(KLIPS). The results are as follows. First, elderly income inequality increased from 1999 to 2002, and then decreased until 2008. Second, household composition changes appear to have disequalizing influence. The proportion of elderly people who are economically dependent on non-elderly family member or living with adult children has declined. Equalizing influence of private transfers also decreased between 2002 and 2008. These results indicate that the redistributive role of family has weakened over time. Third, the improvement of education level and changing occupational structure among the elderly household head contributed to increase in elderly income inequality. Fourth, earning's factor share has declined steadily, and the diminishing role of earnings provides equalizing influence on elderly income inequality from 2002 to 2008. Fifth, the impact of recent expansion of social insurance has changed over time. Inequality contribution of social insurance income increased from 1999 to 2002, and then decreased from 2002 to 2008.

• Land and Housing Review
• /
• v.14 no.4
• /
• pp.17-37
• /
• 2023

The rental housing market in South Korea, specifically monthly rent with deposit, has been expanding over the last three decades (8.2% in 1990 to 21.0% in 2020), partly replacing the traditional Jeonse market. The distribution of rent has changed due to public rental subsidies and the emergence of luxury rental housing, while the distribution of rental household income has been polarized because of the emergence of rich renters. This study attempts to measure the structural changes in the rental market by developing a new indicator of income-rent mismatch. Using the seven series of the Korea Housing Survey, this study analyzed the changes in rent (reflecting the conversion rate) and income levels of rental households in 2006 (base year) and 10-15 years later (the analysis year) at the national level and at the spatial unit of 16 metropolitan cities and provinces (excluding Sejong), respectively, by dividing them into quartile data. The result reveals that rental housing was undersupplied in middle- and high-income rental housing due to the decline in the highest quartile (25%→18%) and the third quartile groups (25%→20%), while the supply of public rental housing expanded for the second quartile (25%→28%) and the lowest quartile (25%→35) groups. On the demand side, the highest income quartile shrank (25%→21%), while the lowest income quartile grew (25%→31%). Comparing the 16 metropolitan cities and provinces, there were significant regional differences in the direction and intensity of changes in rent and renter household income. In particular, the rental market in Seoul was characterized by supply polarization, which led to an imbalance in the income distribution of rental households. The structural changes in the apartment rental market were different from those in the non-apartment rental market. The findings of this study can be used as a basis for future regional rental housing markets. The findings can support securing affordable rental housing stock for each income quartile group on monthly rent and developing housing stability measures for a balance between income and rent distribution in each region.

• Journal of Korean Society of Rural Planning
• /
• v.25 no.4
• /
• pp.65-76
• /
• 2019

농촌인구의 급격한 감소와 고령화 속에서 농촌의 지속가능성을 위한 방안으로 귀농·귀촌의 확대가 부각되고 있다. 본 연구는 귀농·귀촌인의 생활만족도 결정요인을 분석함으로써 도시민의 농촌 이주와 성공적인 정착을 촉진하기 위한 정책적 시사점을 제공하고자 한다. 본 연구는 특히 귀농·귀촌의 주요 동기가 소득이나 농촌의 자연환경이라는 점에서, 생활만족도를 자연환경만족도와 소득만족도로 구분하여 비교 분석하는 데 목적이 있다. 분석에는 순서형 로짓모형과 일반화 로짓모형을 사용하였고, 분석자료는 2016년 「귀농귀촌실태조사」 원자료이다. 분석결과, 귀농·귀촌인의 자연환경만족도는 상당히 높으나 소득만족도는 보통 수준에 미치지 못하였다. 귀농·귀촌의 이유가 자연환경이거나, 귀농·귀촌 시 가족의 지지가 있었거나, 귀농·귀촌 이후 주변 이웃들과 좋은 관계를 유지하거나, 지자체로부터 귀농·귀촌 지원을 받은 경우, 귀농·귀촌인의 소득만족도와 자연환경만족도가 모두 높았다. 이러한 공통적인 요인 이외에 귀농·귀촌인의 소득만족도와 자연환경만족도에 영향을 미치는 요인은 뚜렷한 차이를 보였다. 소득만족도는 현재 가구소득이나 귀농·귀촌 전·후 소득 변화와 같은 경제적 요인에 의해 영향을 받으나, 자연환경만족도는 귀농·귀촌 시 배우자의 동행 여부나 지역사회 참여와 같은 사회적 요인에 의해 주로 영향을 받는 것으로 나타났다.

• Korean Journal of Social Welfare
• /
• v.62 no.1
• /
• pp.109-132
• /
• 2010

This study examined the effects of depression by household's economic factors with income levels using the wave 1, 2 of Korean Welfare Panel Study. As a result, changes in income satisfaction have significant effects on depression levels. In non-poor households, the income and comsumption expenditure have effects on depression levels. But poor households do not have any effects. Among the control variables, age, marital status, and education level are influential factors on the depression levels. Based on the results, the author was able to recognize the economic factors in household that influnce the depression levels. and The policy directios for household's economic support were discussed.

• Journal of Labour Economics
• /
• v.41 no.4
• /
• pp.31-62
• /
• 2018

Using matching and difference-in-differences estimation method, this study estimates causal effects of health shocks on employment and income of full-time workers aged 40-55. Acute hospital admissions lower significantly the employment probability and earnings. The changes in employment and earnings persist up to three years after the health shock. The economic impacts of health shocks vary by socioeconomic status and job characteristics among individuals. Irregular workers are more likely to leave their jobs after health shocks than regular workers. Among irregular workers, the probability of leaving labor market after health shock decreases with the size of the firm.

• Journal of Venture Innovation
• /
• v.5 no.4
• /
• pp.179-189
• /
• 2022

In the face of revolutionary changes in industry, the relationship between labor and income needs to be reconceptualized in the period of social revolution. The absolute decrease in labor due to the absence of labor is caused by automation, smartization, AI, robot labor, etc., which we must accept whether we want to or not. However, while gross social product and capital of the state or society increase, individual income is likely to decrease. During this transformation period, the state or politics must prepare for the problems caused by the decline in individual income. Until now, there have been various levels of discussion on social welfare or social security from the perspective of welfare or assistance. Attempts or studies at the experimental level have been conducted at the level of many countries or local governments and have found positive and negative effects. There is no basic income system that is widely implemented at the national level, and various discussions are taking place from a future-oriented perspective. Therefore, I propose to look at it from a new perspective based on the perspective so far. We explored that it is part of a positive approach to examine the importance and necessity of basic income in terms of working hours, quality of labor, income, quality of life, value of spare time, and work-life balance. The goal is to actively accept the absolute lack of working hours, replacement of mechanical labor, and polarization due to changes in the industry paradigm, and to look at the problems that come from a positive perspective. If we are going to accept it anyway, we should not look at these issues as short-sighted, but prepare them preemptively and establish a primitive plan from a long-term and overall perspective. Smartphones have changed the world over the past decade and have been lost, but wouldn't there be a lot of new discoveries? Shouldn't we think of it as a great opportunity to improve the quality of life through technological changes?

• Korea journal of population studies
• /
• v.27 no.1
• /
• pp.57-80
• /
• 2004

이 연구에서는 1970년부터 2002년까지의 시계열 자료를 이용하여 우리나라의 사회경제상황이 이혼율 증가에 어떤 영향을 미쳤는지를 분석하였다. Land and Felson(1976)의 거시 동태 사회지표 모형을 바탕으로 경제상황과 남녀 성비, 그리고 이혼 관련법의 개정 등을 분석모형에 포함시켰다. 경제상황에는 여성의 경제활동 참여율, 실업률 그리고 1인당 국내총생산으로 측정된 소득수준을 포함시켰다. 분석의 결과는 실업률과 소득수준이 이혼율의 증가 추이에 영향을 미치는 것으로 나타나고 있다. 1인당 국내총생산의 수준이 높을수록 이혼율도 증가하는 분석의 결과는 경제적 호황기에는 이혼율이 증가하고 경제적 쇠퇴기에는 이혼율이 감소한다는 선행연구의 주장을 실증적으로 뒷받침해주고 있다. 그러나 실업률이 증가할수록 이혼율도 높아지는 것으로 분석되고 있는데 이는 혼인의 결정 요인과 관련한 남성 중심의 가설을 뒷받침하고 있다. 이러한 연구의 결과는 경제상황을 구성하는 하위요인(소득수준과 실업률)이 이혼율의 변화에 미치는 영향의 기제가 다름을 보여주고 있다. 사회경제상황 자체보다는 경제상황의 변화가 이혼율의 변화에 어떤 영향을 미치는지를 분석하기 위하여 회귀분석의 모형에 변화율을 변수로 포함시킬 경우에는 1977년의 가족법 개정만이 이혼율의 변화율에 영향을 미치는 것으로 나타났다. 분석에서 이혼율에 영향을 미치는 모든 거시적 요인을 통제하지 못하고 있는데, 이는 이 연구의 내적 타당도를 저해하는 요인이 된다. 우리나라의 경우 이혼율은 경제적 상황보다는 오히려 문화적 또는 사회적 요인에 의해서 결정될 수도 있기 때문에 이혼율을 결정짓는 경제적, 문화적, 그리고 사회적 요인들을 모두 포함하는 분석 모형의 개발과 실증 자료를 이용한 검증은 향후의 연구 과제로 남는다.

• KDI Journal of Economic Policy
• /
• v.32 no.4
• /
• pp.35-73
• /
• 2010

This paper examines consumption dynamics in relation to asset prices in Korea. Empirical analysis based on the error correction model shows that personal consumption is affected by changes in asset prices but the consumption converges to the long-run level of consumption corresponding to the total income flow in two years. This adjustment in consumption implies that the consumption error, reflected in the error correction term, should have predictability for the future consumption growth during the adjustment period. It is found that the error correction term has a long-run predictability for consumption over up to about 3 years; thus, confirming the error correction model. It is also found that housing prices have larger effects on consumption compared with stock prices in Korea. In addition, the effects of income and asset prices on consumption show bigger effects during contractionary period than expansionary period in business cycles. This paper also analyzes effects of asset wealth that reflects changes in both price and quantity. It is found that asset wealth has a long-run effect on consumption in addition to total income as determinants of consumption. Since wealth effects usually indicate the long-run effect of changes in asset wealth on consumption that is not explained by labor income, which is the proxy for human source of wealth, it is estimated with labor income used as a control variable. According to the estimation, the marginal propencity to consume out of asset wealth is approximately 2%. It means that 1,000won increase in asset wealth may lead to 20 won increase in consumption.