본문 바로가기
KERD
논문KCI 등재

Youth Unemployment over the Business Cycle: An Analysis of Job-finding and Job-separation Hazards

0

조회

0

다운로드

9

인용

0

참고문헌

키워드

주제분류경제학

초록

We analyze and document youth unemployment over the business cycle. Unlike the received wisdom from the recent macroeconomics that changes in job-finding hazard are the main driving force of unemployment dynamics, we find that both job-finding and job-separation hazards are equally important elements that account for unemployment dynamics in Korea. We find some evidence that not only job instability has been increased but labor allocation efficiency has been improved. Some useful implications are discussed for better understanding of macroeconomy and labor market policies.

Abstract

We analyze and document youth unemployment over the business cycle. Unlike the received wisdom from the recent macroeconomics that changes in job-finding hazard are the main driving force of unemployment dynamics, we find that both job-finding and job-separation hazards are equally important elements that account for unemployment dynamics in Korea. We find some evidence that not only job instability has been increased but labor allocation efficiency has been improved. Some useful implications are discussed for better understanding of macroeconomy and labor market policies.

참고문헌 (35)

  1. 남재량, "청년니트(NEET)의실태와결정요인및탈출요인연구", 제7회한국노동패널학술대회 발표자료 (2006), 한국노동연구원
  2. 남재량, "청년실업의동태적특성과정책시사점", 서울대학교세미나발표자료 (2008)
  3. 청년층 노동시장 진입 및 정착 방안연구, "남재량", 한국노동연구원, ~ (2010)
  4. 신동균, "실질임금의 경기변동상 변화패턴과 임금곡선", 노동경제논집, 25(2), pp.1~32 (2002), 한국노동경제학회
  5. 이철인, "실질임금의 하방경직성과 경기변동에 따른 신축성", 국제경제연구, 5(3), pp.73~95 (1999)
  6. 이철인, "탐색-매칭모형을 이용한 청년실업률 접근", 경제논집, 50(1), pp.31~52 (2011)
  7. The extent and consequences of job turnover, "Anderson, P.", 177~236, pp.Brookings Papers on Economic Activity: Microeconomics 1994(1) (1994)
  8. Baker, M., "Unemployment duration: compositional effects and cyclical variability", American Economic Review, 82(1), pp.313~321 (1992)
  9. Barkume, A. J., "Using gross flows to explore movements in the labor force", Monthly Labor Review, 118(4), pp.28~35 (1995)
  10. Barth, P. S., "A time series analysis of layoff rates", Journal of Human Resources, 6(4), pp.448~465 (1971)
  11. The cyclical behavior of the gross flows of U.S. workers, "Blanchard, O. J.", 85~143, pp.Brookings Papers on Economic Activity 1990(2) (1990)
  12. A new Keynesian model with unemployment, "Blanchard, O.", MIT and CREI, ~ (2006)
  13. Cole, H. L., "Can the Mortensen-Pissarides matching model match the business-cycle facts?", International Economic Review, 40(4), pp.933~959 (1999)
  14. The ins and outs of unemployment: the ins win, "Darby, M. R.", National Bureau of Economic Research, ~, pp.Working Paper No. 1997 (1986)
  15. Davis, S. J., "The flow approach to labor markets: new data sources and micro-macro links", Journal of Economic Perspectives, 20(3), pp.3~26 (2006)
  16. Elsby, M., "The ins and outs of cyclical unemployment", American Economic Journal, 1(1), pp.84~110 (2009)
  17. The cyclicality of job loss and hiring, "Fujita, S.", Reserve Bank of Philadelphia and University of California at San Diego, ~ (2006)
  18. Unemployment fluctuations with staggered Nash wage bargaining, "Gertler, M.", National Bureau of Economic Research, ~, pp.Working Paper No. 12498 (2006)
  19. Examining alternative macroeconomic theories: comment, "Hall, R. E.", 261~264, pp.Brookings Papers on Economic Activity 1988(1) (1988)
  20. Hall, R. E., "Employment fluctuations with equilibrium wage stickiness", American Economic Review, 95(1), pp.50~65 (2005)
  21. Hall, R. E., "Employment efficiency and sticky wages: evidence from flows in the labor market", Review of Economics and Statistics, 87(3), pp.397~407 (2005)
  22. Hall, R. E., "Job loss, job finding, and unemployment in the U.S. economy over the past fifty years, In NBER Macroeconomics Annual 2005", pp.101~137 (2006), MIT Press
  23. Kennan, J., "Job loss, job finding, and unemployment in the U.S. Economy over the past fifty years: Comment, In NBER Macroeconomics Annual 2005", pp.159~164 (2006), MIT Press
  24. Menzio, G., "Incomplete self-enforcing labor contracts", University of Pennsylvania and Norwegian School of Management, ~ (2006)
  25. Mortensen, D. T., "Job creation and job destruction in the theory of unemployment", Review of Economic Studies, 61(3), pp.397~415 (1994)
  26. National Commission on Employment and Unemployment Statistics, "Counting the Labor Force, Washington" (1979), U.S. Government Printing Office
  27. Unemployment flows in the U.S. labor market, "Perry, G. L.", 245~278, pp.Brookings Papers on Economic Activity 1972(2) (1972)
  28. Pissarides, C. A., "Short-run equilibrium dynamics of unemployment, vacancies, and real wages", American Economic Review, 75(4), pp.676~690 (1985)
  29. Cyclical wages in a search-and-bargaining model with large firms, "Rotemberg, J. J.", National Bureau of Economic Research, ~, pp.Working Paper No. 12415 (2006)
  30. Shimer, R., "Reassessing the ins and outs of unemployment", Review of Economic Dynamics, 15(2), pp.127~148 (2012)
  31. Shimer, R., "The cyclicality of hires, separations, and job-to-job transitions", Federal Reserve Bank of St. Louis Review, 87(4), pp.493~507 (2005)
  32. Shimer, R., "Discussion of Robert E. Hall’s REStat lecture ‘Employment efficiency and sticky wages: evidence from flows in the labor market’", Review of Economics and Statistics, 87(3), pp.408~410 (2005)
  33. Sider, H., "Unemployment duration and incidence: 1968–82", American Economic Review, 75(3), pp.461~472 (1985)
  34. Slichter, S. H., "The Turnover of Factory Labor" (1919), D. Appleton and Company
  35. Solon, G., "Measuring the cyclicality of real wages: How important is composition bias?", Quarterly Journal of Economics, 109(1), pp.1~25 (1994)

관련 논문AI추천

이 간행물의 다른 논문 (3건)