FACTORS RELATED TO THE RISK OF A SUBSTANTIAL INCOME DECREASE BETWEEN 2006 AND 2008 IN SOUTH KOREA

Eunice Jihyun Hong () and Sherman D. Hanna
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Eunice Jihyun Hong: Korean Women’s Development Institute, 225 Jinheung-ro Eunpyeong-gu, Seoul 03367, Korea
Sherman D. Hanna: Ohio State University, 1787 Neil Avenue, Columbus OH 43210, USA

The Singapore Economic Review (SER), 2019, vol. 64, issue 01, 157-173

Abstract: Between 2006 and 2008, 9% of Korean households had an income decrease of 50% or more, a rate almost identical to the U.S. despite the much lower impact of the global financial crisis on Korea. We ran a logistic regression to determine factors related to the likelihood of a substantial income decrease between 2006 and 2008 for Korean households. The likelihood of a substantial decrease was low for households below the 75th percentile of 2006 income, probably due to differences in composition of income. Households with college education were less likely than those without college to have a substantial decrease.

Keywords: Household income; global economic crisis; Korean households; Korean labor and income panel study (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:wsi:serxxx:v:64:y:2019:i:01:n:s0217590817430068

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DOI: 10.1142/S0217590817430068

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