The Effect of Productivity on Employment and Its Implication : Evidences from Korean Industry-level Data
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There are a number of previous studies regarding the effects of productivity on employment. In this sense, while investigating the effects of productivity on employment, this paper also tests whether the effects have changed since 2000 in Korea. Basically, the empirical analysis is focused on the long-run relationship using cointegration between productivity and employment. In particular, the paper attempts to include the inter-industrial effects of productivity on employment in the empirical model. The empirical results provide the following two findings. Firstly, the aggregate effect of productivity on employment is significantly positive but it has decreased since 2000. Secondly, the each inter-industrial effects of productivity on employment are significantly positive but it has decreased after 2000. However, intra-industrial effects of productivity after 2000 do not change significantly.
Abstract
There are a number of previous studies regarding the effects of productivity on employment. In this sense, while investigating the effects of productivity on employment, this paper also tests whether the effects have changed since 2000 in Korea. Basically, the empirical analysis is focused on the long-run relationship using cointegration between productivity and employment. In particular, the paper attempts to include the inter-industrial effects of productivity on employment in the empirical model. The empirical results provide the following two findings. Firstly, the aggregate effect of productivity on employment is significantly positive but it has decreased since 2000. Secondly, the each inter-industrial effects of productivity on employment are significantly positive but it has decreased after 2000. However, intra-industrial effects of productivity after 2000 do not change significantly.
참고문헌 (46)
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