• Journal of Family Resource Management and Policy Review
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• v.4 no.1
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• pp.59-68
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• 2000

Everyone lives in a home. We pursue happiness and the meaning of life through home life or family life. Home life, therefore, has an important meaning in the whole life, But home life can be sustained only through housework and wage labor. All human activities can be divided into two kinds of activities. The one has intrinsic value, the other has extrinsic value. Housework belongs to the activity with intrinsic value, but wage labor belongs to the activity with extrinsic value. In view of home life, housework has primary meaning, and wage labor has subsidiary meaning. In other words, wage labor is only means of home life. We mush not forget that important fact. But we cannot help thinking that nowadays people consider wage labor itself as an aim of life. It is said that we are achieving self-actualization through wage labor, but it is not ture. To tell the truth, most of us are experiencing self-alienation in job. We must recover the legitimate relation between housework and wage labor. Wage labor is means of home life, therefore it is on the extension line of housework. If we achieve happiness through home life, we must recognize that wage labor is only means of home life, not an end in itself.

• Asia-Pacific Journal of Business
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• v.10 no.4
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• pp.137-151
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• 2019

Using Korean Labor and Income Panel Study data, this paper estimates nominal wage rigidity in Korea by industry from 2005 to 2017 and evaluates the level of inefficiency of Korean labor market. And, after estimating employment volatility by industry using the Labor Force Survey at Establishments data for Korea, we combine the nominal wage rigidity and the employment volatility estimates and analyze the effect of nominal wage rigidity on employment volatility in Korea from 2011 to 2017. If the level of wage rigidity is high, it may be hard for the labor market to be in the equilibrium, and therefore, the market may have inefficiency. We find that the inefficiency of the labor market in Korea have increased from 2005 to 2017 and the industry of accommodation and food service activities has the highest level of inefficiency over the period. We also find that one-percent-point increase in wage rigidity increases employment volatility by 2.3-2.9 percent and the positive effect is bigger for workers with part-time and temporary jobs. The result implies that firms may adjust their labor costs by changing the number of casual workers, rather than permanent workers, when the labor market suffers from a high level of wage rigidity.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2018.05a
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• pp.70-71
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• 2018

The labor cost on construction project of Korea is calculated based on the Wage Rate in Construction of Korea which is published by Construction Association of Korea. The Wage Rate in Construction of Korea does not have any variation on the wage following skill level of labor although it has 123 work categories. In addition, the classification on skill level and career of construction labor in Korea does not defined. Therefore, to establish the concept of the classification on skill level and career of construction labor, this study aim to compare the difference between Wage Rate in Construction of Korea with Award system which present grade on skilled labor.

• Journal of Labour Economics
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• v.42 no.1
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• pp.73-105
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• 2019

In this paper, we investigated the impacts of minimum wage on the working hours and labor income of wage earners considering coverage of minimum wage. The results show that the increase in the proportion of workers influenced by the minimum wage in the industry has a negative effect on the average monthly working hours and the average monthly salary of workers affected by the minimum wage. This implies that firms try to offset the rise in labor costs caused by increase in the minimum wage by adjusting the working hours of the employees influenced by the minimum wage. Our finding suggests that the minimum wage policy would reduce the labor income of workers affected by the minimum wage.

• Journal of Labour Economics
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• v.27 no.1
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• pp.165-179
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• 2004

While they compare the growth rate of wage with that of average labor productivity, we compare it with the growth rate of marginal labor productivity. After estimating the elasticity of substitution and technology level, we estimate the marginal labor productivity. Wages and marginal labor productivities are similar over 1963-2000. However, while wages come short of marginal labor productivities over 1963-1986, they exceed marginal labor productivities over 1987-2000. Although the growth rate of wage is not so different from that of marginal labor productivity, it can be disparate from that of average labor productivity. Therefore the former exceeding the latter does not mean the excessive wage growth off the labor demand curve.

• Journal of Labour Economics
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• v.37 no.3
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• pp.45-73
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• 2014

This study analyzes the effect of labor unions in Korean manufacturing industry on wage variance of men from 1988 to 2012. The results are as follows. Firstly, the wage variance within establishments is higher than that between establishments, and the wage variance between establishments in the non-union sector has increased significantly compared to that in the union sector since 2000. There is strong evidence that the latter is due to the solidarity wage policy of unions which has strengthened since the early 2000s. Secondly, the influence of labor unions on the wage structure within the union sector has gotten stronger recently despite the general drop in the labor union membership. Thirdly, since the mid-1990s labor unions have contributed to reducing the overall wage variance. It implies that decline in the unionization rate over the years in Korea is likely to have contributed to increasing wage inequality.

• Journal of Labour Economics
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• v.32 no.2
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• pp.61-93
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• 2009

In this paper, we estimate the wage premium of English skills in the Korean labor market using Korean Labor and Income Panel Study(KLIPS) data. In a simple OLS model, we find that people with some English skills in terms of self evaluation or job requirement earn 30% more than those who do not have English skills. But in a small sample of relatively young people, higher English lest scores do not raise earnings. When we add SAT scores in the wage equation, there is no wage premium of English skills, and in the IV estimation, we find no "English premium". These results consistently imply that while there is a large wage premium of English skills in the Korean labor market, it reflects unobservable ability for the most part. Meanwhile some of the regression results favor human capital theory over screening theory as an explanation of the nature of the wage premium of English skills.

• Journal of Convergence Society for SMB
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• v.3 no.1
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• pp.7-13
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• 2013

It will prove that with a more plausible specification of the relationship between income and the value of leisure, we can develop a more accurate model of the labor market without necessarily losing the primary merit of the received model. Moreover, with an improved understanding of labor market dynamic we can see that progressive era labor market legislation, designed to mitigate the effects of bargaining power inequality in low wage labor markets, was in fact based upon sensible economic foundations. The results of this study as follow; These low-wage dynamics present an example of a positive feedback system or "vicious circle" at work in the economy. With the revised labor supply schedule presented above, the market dynamic of the low wage sector push the wage away from the range that is consistent with a self-regulating market.

• Journal of Families and Better Life
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• v.7 no.1
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• pp.119-138
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• 1989

This study attempts to apply its result to decision whether housewives are in the labor market or not by investigating the level of reservation wage of them and the influencing factors on it. The purpose of this study is to analyse the effects by identifying , on the basis of theoretical models, the factors that influence reservation wage, and to predict future state of female employment. 1) The level of reservation wage of housewives showed significant differences by husband's income, household asset, housewife's education level, housewife's age, number of children division of husband in household labor, and by three marketization of housework. 2) The variables which affected reservation wage of housewife independently had influence on it in the following order: Husband's income, education level, age affect positively reservation wage of housewife, and a negative relation has been found between division of husband, level of commodity substitution and reservation wage of housewife. 3) Husband's income, housewife's education level, housewife's age, division of husband in household labor, level of commodity substitution give direct effects on reservation wage of housewife. Education level, age, number of children and family type influenced reservation wage of housewife through level of commodity substitution indirectly.

• Journal of Labour Economics
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• v.33 no.1
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• pp.53-84
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• 2010

This paper investigates the wage losses of displaced workers, using data from the Korean Labor & Income Panel Study. Previous Korean studies were only to estimate the wage losses shortly after job displacement. However, if the wage losses persist, those results seem to under-estimate the effects of displacement. Our findings show that the wage reductions are quite persistent 4 years after displacement. And much of this persistence can be explained by the lost labor market experience (lost opportunities to accumulate generalized skills) and additional job losses in the years following an initial displacement.