• Title/Summary/Keyword: Wages

Search Result 415, Processing Time 0.121 seconds

Minimum Wages and Employment of Youth, Old, and Woman by Region : With Special Reference to Use of Wage Distribution Differentials among Regions (최저임금과 지역별 청년·장년·여성 고용 - 지역 간 임금분포 격차 활용을 중심으로 -)

  • Bai, Jin Han
    • Journal of Labour Economics
    • /
    • v.42 no.1
    • /
    • pp.1-42
    • /
    • 2019
  • In this study we find that relatively high minimum wages should make the employment ratios of youth, old, and woman lower very significantly in those regions concerned, futhermore, make the overall employment ratios of those regions lower also by using a proxy variable, the Regional Minimum Wages-Half Median Wages Ratio which represents well the very stable differential structure of wage distributions among regions in Korea. In large Cities those effects become much stronger. But we find also that those effects on the rates of regional unemployment are somewhat double-faced except the case of youth because of the probable generating of many discouraged unemployed among the old and women. So, we can conclude that because of the differential regional economic situations it is not sustainable to increase the overall minimum wages uniformly and excessively and strongly necessary to explore ways toward introducing the proper system of regional minimum wages.

  • PDF

Validity of Living Wages from a Policy Instruments Viewpoint : Focusing on Systems Thinking (정책수단의 관점에서 생활임금제의 타당성 : 시스템사고를 중심으로)

  • Choi, Ho-Taek;Jung, Seok-Hwan
    • The Journal of the Korea Contents Association
    • /
    • v.15 no.12
    • /
    • pp.185-192
    • /
    • 2015
  • This study analyzed the spatial interrelation between living wages and economic variables and how they operate based on systems thinking theory to understand what value living wages have as policy instruments and why they are necessary. Results from this study can be summed as follows. First, the relationship between living wages and economic variables shows close interaction at a considerable level. In particular, mutual feedback which connects to laborers' standards of living, consumption, business, and economy was operating closely. Second, largely three positive (+) feedback loops were operating in the feedback structure of living wages and economic variables. This can be interpreted to mean that positive economic variables which are associated with living wages have the possibility of growth. Also, it can mean that the minimum wage system did not fully fulfill its role. Through these study results, it can be learned that living wages have sufficient value as a policy means and that it is advisable to allow living wages to exceed simple application levels in the public sector to expand into the private sector, to bring positive change to the economic system.

A study on the Assessment of Standard Wages for Constructing Luminaries for Landscope Lighting (경관조명기구의 설치에 대한 기준노임 산정에 관한 연구)

  • Yoo, Dong-Gil;Lee, Bok-Hee;Lee, Sok-Yeon
    • Proceedings of the Korean Institute of IIIuminating and Electrical Installation Engineers Conference
    • /
    • 2008.10a
    • /
    • pp.169-172
    • /
    • 2008
  • Recently, landscape lighting is more and more installing in many places such as park, cultural heritages, large-scale structures, bridges, apartment, and so on. However, there is no the government-set official estimation for standard wages constructing luminaries for landscape lighting. The cost of construction is estimated based on the standard wages of related-similar installations such as internal lighting fixtures or the designer's subjective decision. Sometimes, it is overestimated or underestimated. In this paper, the fundamental process for estimating the standard wages constructing luminaries for landscape lighting is studied. The estimation method of standard wages constructing lighting fixtures was examined on the basis of the type and capacities of luminaries, installation places, type and shapes of installation auxiliary materials, worker's skill, and etc. As a result, some results obtained in this work were significantly, different with the standard wages for internal electric wiring published by Korea Electric Association. In the future, to improve the accuracy of the estimation of the standard wages for constructing luminaries for landscope lighting, detailed factors related to the installation condition and dimensions and types of luminaries should be considered.

  • PDF

Cyclical Patterns of Real Wages and the Wage Curve (실질임금의 경기변동상 변화패턴과 임금곡선)

  • Shin, Donggyun;Cheon, Byungyou
    • Journal of Labour Economics
    • /
    • v.25 no.2
    • /
    • pp.1-32
    • /
    • 2002
  • This paper investigates how real wages adjust to regional and cyclical shocks in the Korean labor market. Major findings are as follows. First, like most longitudinal studies in this literature, we find that real wages are strongly procyclical and more procyclical for men than for women. Second, consistent with the theory prediction of efficiency wages, both permanent and transitory components of real wages are negatively correlated with the local unemployment rate. Third, when overall and local unemployment rates compete in a wage equation (our preferred specification), current wages are dominantly affected by the overall rate, and the effect of the local rate is rather small. This rejects the Blanchflower and Oswald's hypothesis that wages are primarily determined by local labor market conditions. Finally, no lagged effects on wages are detected in the overall or local unemployment rate.

  • PDF

The Effect of Minimum Wages on New Hiring of Low-wage Workers (최저임금의 저임금 근로자의 신규 채용 억제효과)

  • Kim, Dae Il
    • Journal of Labour Economics
    • /
    • v.35 no.3
    • /
    • pp.29-50
    • /
    • 2012
  • This paper estimates the effect of minimum wages on new hiring of low wage workers from a time-series. The results indicate that minimum wages tend to reduce the new hiring of low wage workers, in particular, among women, less educated and older population. The strongly negative effect on new hiring suggests that the burden of reduced labor demand arising from higher minimum wages tend to fall mostly upon the unprotected low-wage job searchers due to the short-term rigidity of employment adjustment among the existing workers.

  • PDF

How Indonesia Economics Works: Correlation Analysis of Macroeconomics in 2010 - 2019

  • OLILINGO, Fahruddin Zain;PUTRA, Aditya Halim Perdana Kusuma
    • The Journal of Asian Finance, Economics and Business
    • /
    • v.7 no.8
    • /
    • pp.117-130
    • /
    • 2020
  • The purpose of this study is to provide benefits and ethically-rooted managerial implications based on theoretical underpinnings through an empirical study using correlation between wages, bank credit, government expenditure on economic growth, and employment via a case study in Indonesia. Besides that, managerial implications strive to provide benefits to the government regarding the importance of establishing effective and pro-development regulations to realize economic growth and employment through the efficient role of wages, bank credit, and government spending. This study uses secondary macroeconomic data from the period 2010-2019 with analysis using the correlation test with the Pearson correlation method. Out of eight hypotheses tested, two hypotheses do not have a significant correlation. The details of the statistical results obtained the following correlations: the correlation between bank credit and wages has a significant, but indirect (negative) correlation. However, the correlation between bank credit and economic growth has a direct and significant (positive) correlation. Government expenditure correlates positively with wages, but correlates negatively with bank credit. Wages are positively correlated with economic growth, but have no significant effect on employment. Finally, economic growth has a positive correlation with government expenditure, but does not have a significant correlation with employment.

The Impact of Outward FDI on the South Korean Labor Market: Evidence on the Wages of Four Types of Workers

  • Lee, Hongshik;Kim, Hongmin;Sim, Soonhyung
    • East Asian Economic Review
    • /
    • v.18 no.1
    • /
    • pp.29-54
    • /
    • 2014
  • The purpose of this research is to identify the relation between OFDI (Outward Foreign Direct Investment) and wage inequality. In order to analyze various effects of OFDI on wages depending on the types of workers, the research classified laborers into four categories: permanent/skilled worker, permanent/unskilled worker, temporary/skilled worker, and temporary/unskilled worker. With controlling wage-determining factors such as education, labor union, individual fixed-effect, and industry-level effect, this paper examines whether OFDI attributes to the wage inequality among each type of workers. Moreover, this study also analyzes possible effects on wages that could vary according to the different characteristics of investments by classifying OFDI into two groups: OECD and non-OECD. The results reveal that OFDI makes certain differences according to skill-intensity and contract type in terms of influences on wages. It also shows that the effect of OFDI on wages is more subject to contract type than to skill-intensity. The classification of OFDI into OECD and non-OECD proves that effects on wages can vary by characteristics of the subject of investment.

Cyclicality of Inter-Industry Wage Gaps and Segmented Labor Market Hypotheses (산업간 임금격차의 경기변동상 변화 패턴과 분단노동시장 가설)

  • Shin, Donggyun
    • Journal of Labour Economics
    • /
    • v.26 no.3
    • /
    • pp.77-114
    • /
    • 2003
  • Analyses of the special data sets constructed from the National Longitudinal Survey of Youth and the Panel Study of Income Dynamics reveal that, compared with an annual wage measure, survey week wages are significantly counter-cyclically biased due to selecting workers with strong labor market attachment. We also find that survey week wages are more counter-cyclically biased in high-wage industries than in low-wage industries, that is, inter-industry gaps of survey week wages are counter-cyclically biased. Unlike existing longitudinal studies, the current study concludes that real wages are much more procyclical in high-wage industries than in low-wage industries, which is attributed to our adoption of annual wages that is less subject to the selectivity bias. Our finding is consistent with the empirical regularity that real wages are much more procyclical for men than for women, as men are overrepresented in industries with greater real wage procyclicalities. Overall, current results do not support the predictions of segmented labor market theories for the cyclicality of real wages.

  • PDF

The Legal Issues and Improvements Surrounding Wages of Foreign Workers (외국인근로자의 임금을 둘러싼 법적 문제점과 개선방안)

  • Noh, Jae-Chul;Ko, Zoon-Ki
    • The Journal of the Korea Contents Association
    • /
    • v.14 no.4
    • /
    • pp.135-147
    • /
    • 2014
  • The wages of migrant workers about the rational discrimination and equal treatment have been treated partially. Foreign workers are also discussed in terms of the productivity and rational discrimination, but it is very limited. The Business community has been persisting that the minimum wage system for foreign workers should be excluded. Unlike local workers, migrant workers are relatively in that position with limited work place, a limited period of time to provide labor for the purpose of wage, in that points, the gap of the reality and the laws surrounding wages can be identified. This is expressed the conflicts and distress between employers and workers. Meanwhile, wages and equal treatment on the part of the study have been discussed, but it is hard to be organized clearly. Be related to this study, it will have a limitation. In this paper, since the employment permit system was enforced, the status of wages and distress and the factor of conflicts between the employer and the foreign worker examine and suggest the improvement plan for the law regarding wage.