• 제목/요약/키워드: Natural Rate of Unemployment

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구직률과 이직률을 활용한 자연실업률의 추정 (A New Estimate for the Natural Rate of Unemployment based on Job Finding and Separation Rates)

  • 권규백;김형석;이윤수
    • 노동경제논집
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    • 제38권2호
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    • pp.1-24
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    • 2015
  • 본고에서는 구직률과 이직률을 이용해서 한국의 자연실업률을 추정하였다. 추정 결과, 한국은 IMF 경제위기 이후 구직률과 이직률이 모두 상승하는 추세를 보였으나, 자연실업률의 추세가 상승했다고 결론을 내릴 수는 없었다. 칼만필터 추정법에 의한 구직률, 이직률, 자연실업률의 추세 간의 관계를 볼 때, '일자리창출(Job Creation)'과 '일자리 파괴(Job Destruction)'가 동반 상승했음을 추론할 수 있다.

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Predicting the Unemployment Rate Using Social Media Analysis

  • Ryu, Pum-Mo
    • Journal of Information Processing Systems
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    • 제14권4호
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    • pp.904-915
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    • 2018
  • We demonstrate how social media content can be used to predict the unemployment rate, a real-world indicator. We present a novel method for predicting the unemployment rate using social media analysis based on natural language processing and statistical modeling. The system collects social media contents including news articles, blogs, and tweets written in Korean, and then extracts data for modeling using part-of-speech tagging and sentiment analysis techniques. The autoregressive integrated moving average with exogenous variables (ARIMAX) and autoregressive with exogenous variables (ARX) models for unemployment rate prediction are fit using the analyzed data. The proposed method quantifies the social moods expressed in social media contents, whereas the existing methods simply present social tendencies. Our model derived a 27.9% improvement in error reduction compared to a Google Index-based model in the mean absolute percentage error metric.

Do Phillips Curve Respond Asymmetrically to Unemployment? Evidence from Korea and the U.S.

  • Lee, Donghae;Lee, Sangki
    • 산경연구논집
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    • 제9권3호
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    • pp.19-29
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    • 2018
  • Purpose - This study empirically analyses the changes in unemployment rates to understand push factors of generating wage pressure and how it affects the aggregate demand in Korea and the United States. We use a structural macroeconomic model which is centered on the labor market and simultaneously explains the natural rate of unemployment and deviations. Research design, data and methodology - We attempt to empirically analyse the unemployment rates through two countries to analyse the economic effects of real wages and aggregate demand between 2000 and 2016. We introduce having estimated the whole model that the growth of unemployment into the part caused by each of these factors. Results - The results of this study show that in the long run, there is not only a natural level of employment but also a natural level of real demand are positively related. in the short run, demand can vary from bring about changes in employment by means of price or wage surprises. Conclusions - The pressure of demand in the labor market shows up strongly in both countries. The estimated labor-demand equation are consistent with this framework and generally have well defined real wage and demand effects.

한국의 자연실업률 추정 (Korea's Natural Rate of Unemployment: Estimates and Assessment)

  • 신석하
    • KDI Journal of Economic Policy
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    • 제26권2호
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    • pp.3-62
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    • 2004
  • 한국의 자연실업률에 대한 기존 연구들은 대부분 한 가지의 추정방법에 의존하고 있어 연구 간에 상이하게 나타나는 추정결과를 평가할 근거가 없는 상황이다. 따라서 본고에서는 이를 감안하여 순수 시계열방법, 축약형 모형을 이용한 방법, 구조모형을 이용한 방법 등 다양한 추정방법을 검토하여 추정방법 간 상대적인 장단점을 비교하고 이를 기반으로 한국의 자연실업률을 추정하고자 하였다. 또한 본 논문에서는 추정결과의 신뢰구간을 몬테카를로 적분(Monte Carlo integration)방법을 이용하여 추정함으로써 추정결과의 정확성에 대한 평가 근거를 제시하였다. 축약형 모형의 하나인 다변수 비관측인자모형이 여타 추정방법에 비해 상대적으로 장점을 지니고 있는 것으로 평가되었으나 추정결과가 모형설정오류에 민감하다는 점을 고려하여 모형설정에 세심한 주의를 기울일 필요가 제기되었으며, 순수 시계열방법이나 구조 벡터자기회귀모형도 나름대로의 장점이 있으므로 특정방법을 이용한 결과에 의존하기보다는 여러 추정방법에 의한 추정결과에서 공통적으로 발견되는 부분에 기반을 두어 자연실업률을 추론하는 것이 바람직하다고 사료된다. 추정방법에 따라 다소 차이가 있지만, 한국의 자연실업률은 1979~87년 동안 평균 3.7~4.0% 수준에서 1988~97년 기간 동안 평균 2.6~3.2% 수준으로 하락하였으나, 외환위기를 거치며 4.0~5.3% 수준까지 상승하였다가 이후 하락하는 추세를 지속하고 있는 것으로 나타났다. 또한 대부분의 추정결과에서 최근에 실제실업률이 자연실업률에 근접해 있으나 실업률 갭이 상승하고 있는 것으로 나타나 최근 비교적 높은 수준에 머무르고 있는 실업률이 외환위기 이후 자연실업률의 상승이라는 구조적 변화와 경기침체라는 경기순환적 요인에 함께 영향 받고 있을 가능성을 시사하였다.

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오쿤의 법칙(Okun's law)에 대한 재해석 (Reinterpretation of Okun's law on Korean Economy)

  • 유경준;류덕현
    • 노동경제논집
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    • 제35권1호
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    • pp.89-109
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    • 2012
  • 본 연구는 실업률 변화와 성장률 간의 경험적 관계를 나타내는 오쿤의 법칙을 우리나라의 자료를 이용하여 추정하고 그 결과를 새롭게 해석하는 것을 목표로 하고 있다. 분석 결과는 다음과 같다. 첫째, 벤치마크 오쿤의 추정계수 ${\beta}$는 방법론에 따라 대략 2~4의 계수 값을 보여주어 선진국의 경우보다 다소 높은 값을 보여주었다. 둘째, 경기변동에 따른 비대칭적인 반응이 관측되기는 하지만 추정방법에 따라 혼재된 결과를 보여주고 있다. 마지막으로 1979~80년, 1997~98년 등의 구조변화를 반영한 오쿤의 추정계수는 벤치마크와 비슷한 값으로 추정되었다.

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The Effect of Macroeconomic Factors on Income Inequality: Evidence from Indonesia

  • SESSU, Andi;SAMIHA, Yulia Tri;LAISILA, Maya;CHAMIDAH, Nurul;MURDIFIN, Imaduddin;PUTRA, Aditya Halim Perdana Kusuma
    • The Journal of Asian Finance, Economics and Business
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    • 제8권7호
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    • pp.55-66
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    • 2021
  • The purpose of this study is to analyze the relationship and effects of variables both directly and indirectly (e.g., investment (INV), government expenditure (GE), unemployment rate (UR), economic growth (EG), and income inequality). The analytical phases consist, first, to transform the data using the Log Natural (Ln) method. Second, to check normality and multicollinearity of data. Third, to test direct effects of variables (government expenditure and investment effect on the unemployment rate and economic growth; investment on government expenditure; economic growth on unemployment rate; economic growth and unemployment rate on income inequality). Fourth, to test indirect effects using Sobel test, which involves UR and EG as intervening variable. Fifth, to test hypotheses with p-value < 0.05. The results of the study reveal that, of the 12 relationships, statistics show that 11 variations of the association have significant positive and negative effects. Theoretically, the different characters and goals of GE and INV in each country will have a different impact on EG and UR goals. The study provides an input, especially for the government. To create optimal EG through GE and INV, it is necessary to allocate budgets to industrial sectors that can absorb a massive labor force and to new economic growth sectors.

녹색성장의 상보성에 관한 연구 (A Study on Complementarity of Green Growth)

  • 박성쾌
    • 수산해양교육연구
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    • 제21권2호
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    • pp.306-324
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    • 2009
  • The purpose of this study is to analyze green growth issues such as employment, education and training, social capital and nature's standing right from the complementary perspective between natural environment conservation and economic growth. Green growth can be defined as a growth which lowers an increasing rate of entropy and at the same time improves our living standard. Green growth paradigm requires a quite amount of understanding the laws of thermodynamics and the uncertainty principle as the highest orders which regulate our overall socio-economic behaviors. They suggest that socio-economic growth is a mere transformation process of natural energy from one form to another and they increases natural manmade entropy over time. The most important issue of green growth policy may be a problem concerning employment and/or unemployment since green growth may induce inevitable movement of resources from the existing industries to the green sector. In particular, green industries will demand more highly specialized manpower than the existing ones. Without a well-designed new training education system and social capital accumulation toward environmental concerns, green growth may accompany a substantial amount of structural involuntary frictional unemployment. This may increase not only wealth-distribution disparity but also political instability. In order to achieve harmonious green growth, we should recognize that there are important complementary relationships between green and growth. Our society should also be able to innovate the existing educational system to accumulate social capital, to create a new sharing system, and to admit nature's standing right. Although the 2003 lawsuit case of Korean Salamander in Cheonseong Mountain went against plaintiff, it would provide apparently our society with a way of green development ahead.