Limited Income Mobility: Empirical Evidence from Korea

Hyungna Oh () and Yun Jeong Choi ()
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Hyungna Oh: Kyung Hee University
Yun Jeong Choi: Yonsei University

Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, 2018, vol. 138, issue 2, No 12, 665-687

Abstract: Abstract Using the Korea Labor and Income Panel Study from 1998 to 2010, we measure income mobility and determinants of income ranks and mobility. Empirical outcomes reveal that income mobility is quite limited for both the poorest and the richest income households. Moreover, a macro economic shock had heterogeneous impacts on each income group and the low-income class was highly vulnerable to it. Given the long-lasting impacts of early stage factors and initial endowment on income, this paper calls for policies to support citizens suffering from illness, family breakdown, poor initial conditions, and aging.

Keywords: Intragenerational mobility; Income elasticity; Poverty; Korea (search for similar items in EconPapers)
JEL-codes: D31 D63 I30 (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (4)

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DOI: 10.1007/s11205-017-1670-9

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