Trends in Unemployment Rates in Korea: A Search-Matching Model Interpretation

Yongsung Chang, Jaeryang Nam and Changyong Rhee
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Jaeryang Nam: Hanyang University
Changyong Rhee: Seoul National University

Labor and Demography from University Library of Munich, Germany

Abstract: We investigate the steady decline in aggregate unemployment rates in Korea since the 1960's. We argue that a pronounced decrease in the intensity of reallocation shocks, which resulted in a downward trend in the natural rate of unemployment, has been an important factor in this decline. Our claim is based on a structural search-matching model, the times series of job-separation and job-finding rates, and sectoral-shift measures that we construct from a micro data for the past three decades.

Keywords: Unemployment rates in Korea; Search; Reallocation shocks (search for similar items in EconPapers)
JEL-codes: J2 J3 (search for similar items in EconPapers)
Date: 2002-05-01
New Economics Papers: this item is included in nep-lab
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Journal Article: Trends in unemployment rates in Korea: A search-matching model interpretation (2004)
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Persistent link: https://EconPapers.repec.org/RePEc:wpa:wuwpla:0204004

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