• Korean Journal of Social Welfare Studies
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• v.42 no.4
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• pp.137-163
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• 2011

The objective of this study is to examine the trend of real earnings for TANF leavers. Using administrative data in Wisconsin, this study tracks the 1998 TANF leavers over 7 years. Based on the cyclicality of real wage hypothesis, this study finds: First, although the average real quarterly earnings of TANF leavers have remained stable since their exits, there are substantial labor mobility among TANF leavers. Second, the panel data analysis shows that the real earnings of TANF leavers are significantly associated with local labor market conditions, which supports the hypothesis on the cyclicality of real wages. This study has policy implications that labor market conditions matter for the economic well-being of TANF leavers and the labor demand policies are needed for the economic security of TANF leavers after the exit.

• KDI Journal of Economic Policy
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• v.14 no.4
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• pp.3-26
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• 1992

The pupose of this paper is to construct a price determination model of the Korean economy and to find out the propogation mechanism of monetary and fiscal policies. The model is a small-size macroeconometric model consisted of ten core equations : consumption, investment, exports, imports, consumer price index, wage rate, corporate bond rate, potential GNP, capital stock, and GNP identity. The model is a Keynesian model : consumer price index is determined by markup over costs, and wage rate is expressed by Phillipse curve ralation. Two features of the model, however, distinguish this model from other macroeconometric models of the Korean economy. First of all, the estimation of potential GNP and the capital stock is endogenized as suggested by Haque, Lahiri, and Montiel (1990). This allows us to calculate the level of excess demand, which is defined as the difference between the actual GNP and the potential GNP. Second, interest rate, inflation and wages are all estimated as endogenous variables. Moreover, all quantity variables include price variables as important determinants. For instance, interest rate is an important determinant of consumption and investment. Exports and imports are determined by the real effective exchange rate. These two features make the interactions between excess demand and prices the driving forces of this model. In the model, any shock which affects quantity variable(s) affects excess demand, which in turn affects prices. This strong interaction between prices and quantities makes the model look like a classical model over the long run. That is, increases in money supply, government expenditures, and exchange rate (the price of the U.S. dollar in terms of Korean won) all have expansionery effects on the real GNP in the short run, but prices, wage, and interest rate all increase as a result. Over the long run, higher prices have dampenning effects on output. Therefore the level of real GNP turns out to be not much different from the baseline level ; on the other hand, the rates of inflation, wage and interest rate remain at higher levels.

• Journal of Korea Society of Digital Industry and Information Management
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• v.14 no.2
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• pp.1-9
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• 2018

Currently, the record of part-timer is mainly written in handwriting or using excel work schedule, paper work recorder, and time attendance program using POS program. And, work table, commute records, paycheck are managed separately. Time-attendance information is not linked and is managed separately, and payment of wages is often not done accurately. And, it is difficult to pay the wages because it is not able to accurately grasp the state of attendance of part-timer. Therefore, it is necessary to have a transparent wage and work management system based on the trust between the owner and the part-timer. In this paper, we design a system that can perform real-time commute check using beacon, transparent wage management, wage calculation by automatic calculation, and smooth communication between owner and the part-timer. We have also implemented a store management mobile application using Android Studio 2.3, Eclipse, Android 5.1 and Beacon devices in a MySQL environment.

• KDI Journal of Economic Policy
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• v.14 no.1
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• pp.37-60
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• 1992

This paper applies a Structural VAR approach to a 4 variable system in real GNP, M2, GNP deflator and nominal monthly earnings, disentangling 4 structural shocks, i.e., aggregate demand and supply shocks, wage pushes and various forms of regulations reinforced especially during stabilization process. Preliminary diagnostic tests confirm that the log level of each time series has at least one unit root, though the evidence is somewhat ambiguous for real GNP. One co-integration relationship is found among 4 variables, while no co-integration is found in a subsystem consisting of nomina) variables. The absence of co-integration among nominal variables strongly suggested that money is not neutral even in the long-run. The reduced form is estimated and the structural form is recovered using 6 additional identifying restrictions. Recovered structural shocks are able to capture main episodes of past 20 years, ranging from first and second oil shocks, to strong stabilization policy of early 80's and rapid wage hikes of late 80's. Overall responses of the economy to each structural shock are usually consistent with the standard Keynesian predictions, though some responses seem to be specific to Korean economic environment.

• Journal of the Korean Regional Science Association
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• v.34 no.3
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• pp.43-54
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• 2018

This paper analyzes the effects of population aging on regional differentiation from the New Economic Geography perspective. The addition of old-age population variable affects the price index, income, nominal wage, and real wage derived in the short-run equilibrium. Using the new model, we can better explain industrial agglomeration patterns corresponding to the new long-run equilibrium. As the real wage criterion does not properly take the old-age group into account, we employ the indirect utility function as an additional condition for equilibrium. We further consider tax as a policy tool for achieving a better long-run equilibrium. This would enable the government to direct the economy toward a particular equilibrium desired in the face of population aging.

• 사회경제평론
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• no.38
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• pp.51-83
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• 2012

Consider an n goods production economy. Assume the equilibrium condition of Sraffa's price system, a balanced growth condition and the goods market clearing conditions. If both equations are given to determine a real wage rate and investment, the economic system is over-determined. It suggests that there exists no long-period equilibrium to satisfy both labor market and goods market conditions. This paper interprets this situation of over-determinacy as a disequilibrium state, and attempts to solve it through disequilibrium dynamics. It constructs a model of accumulation and real wage rates consistent with Lotka-Volterra system, and shows that the overall growth path fluctuates endogenously around a resting point of long-period disequilibrium.

• The Korean Journal of Community Living Science
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• v.13 no.1
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• pp.25-40
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• 2002

Recently the rural women's role has been changed from assisting men to leading major farm work. However, contribution of women in the rural area has not beers fairly evaluated. Hence, it has been difficult for the rural women to receive the reasonable compensation if they injured, had some disasters or were divorced. Therefore this study tried to suggest economic methods such as market cost approach, opportunity cost method and shadow wage method for evaluating rural women's labor. It might provide some information for helping to establish the status of rural women as a income earner through estimating money value of labor contributed by rural women and furthermore, be useful information to improve the efficiency of farm labor by exploring the relationship between value of labor and actual income. Hence, it might help improve the economic situation and life at home of rural women, solve difficulties in the real life and reduce disparity of economic distribution between urban and rural area.

• KDI Journal of Economic Policy
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• v.23 no.1_2
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• pp.193-231
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• 2001

The purpose of this study is to clarify the real causes of gender wage differentials in Korea by analyzing changes over the period from 1984 to 1999. The participation rate of women in the Korean labor force has gradually increased since 1963, reaching 47.4 percent as of 1999. This increase can be attributed to more active participation by women of all ages, except those aged 15-19, as a result of their enrollment in higher level education. In particular, a remarkable rise in labor market participation was achieved by those aged 25-29. On the other hand, the ratio of female workers earnings to that of male workers has increased from 45.1 percent in 1972 to 63.1 percent in 1999. However, when the gender wage differentials are decomposed into various factors, it is found that discrimination components against female workers, compared to the skills or productivity characteristics, played a greater role for the 1994 to 1999 period.

• Korean Journal of Social Welfare
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• v.65 no.2
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• pp.79-102
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• 2013

This study aimed at empirically analysing the double discrimination on the elderly with disabilities due to both age and disabilities in the labor market. To achieve this research goal, real employment probabilities and hourly wages of the elderly disabled(below "ED") were compared with those of the young disabled(below "YD") and those of the elderly non-disabled(below "END") to calculate empirical differentials between ED's and YD's, and ED's and END's. The differential decompositions between groups were applied by the Oaxaca(1973). The study results were as followings. First, the real gaps of the employment probabilities between ED and YD only appeared at the regular jobs and the gaps due to the characteristics between ED and YD were bigger than those due to the age discrimination. Second, on the contrary, the gaps of the hourly wages were caused by age discrimination more than characteristics between YD and ED. Third, it was not true that the elderly with disabilities take double discriminations in the labor market. It is therefore required to give the additional incentives to ED workers with government subsidies of employment promotion for the disabled provided. Second, it is proposed that the integrations the employment policies for the disabled with those for the aged because the disability as dependent valuable didn't have statistically significant effects on the employment probabilities and the hourly wage levels.

• Journal of Korea Society of Industrial Information Systems
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• v.19 no.2
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• pp.93-103
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• 2014

This paper establishes the empirical model based on Hall's(1990) and Basu' s(1996) models, estimates the five types of productivity in the medical service industry over the period 1975:1-2010:4, and analyzes the cyclicality of measured productivities and their correlations with the industrial real wage. The empirical results are summarized as the followings. First, there proved to be substantial market power in pricing and returns to scale in production for the medical service industry. Second, the three types of productivity among 5 types showed to be procyclical. Third, the average labor productivity, the original Solow residual, and the cost-based Solow residual are expected to provide reasonable indexes in analyzing the relationship between productivity and real wage.