Testing the Labor Market Dualism in Korea

Sungyup Chung () and Sunyoung Jung ()
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Sungyup Chung: Macroeconomics Team, Economic Research Institute, The Bank of Korea
Sunyoung Jung: Macroeconomics Team, Economic Research Institute, The Bank of Korea

No 2016-13, Working Papers from Economic Research Institute, Bank of Korea

Abstract: The existence of the dual labor market in Korea is tested under the two different definitions of the labor market dualism. First, the estimation results from widely used tools such as Heckman's sample selection model support the existence of two wage equations, advocating the presence of labor market dualism in Korea. Second, the labor market dualism index suggested by Hudson (2007) supports that there is some degree of bifurcation between the good job conditions and bad job conditions.

Keywords: Labor market; Labor market dualism; Sample bias correction (search for similar items in EconPapers)
JEL-codes: C24 J31 J40 J81 (search for similar items in EconPapers)
Pages: 34 pages
Date: 2016-10-10
New Economics Papers: this item is included in nep-iue
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Citations: View citations in EconPapers (2)

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