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논문 기본 정보
- 자료유형
- 학술저널
- 저자정보
- 발행연도
- 2010.8
- 수록면
- 231 - 261 (31page)
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The recent global financial crisis or - “Great Recession”led to the deepest downturn in the global economy since World War Ⅱ, hitting in particular economies open to trade and integrated with the global financial system, including Korea. During the recession and the ongoing recovery, labor market dynamics have differed widely across countries. This paper analyzes the determinants of labor market dynamics in Korea and other advanced economies during the recent crisis, focusing in particular on the role played by institutions, the nature of the shock hitting countries, and policy measures. It is found that institutional factors such high employment protection and low unemployment benefits tend to mute the responsiveness of unemployment to changes in output. Policy responses, including short-term employment programs, also matter. The paper also finds that if a recession is associated with financial sector strains and/or the bursting of a housing market bubble, this tends to be associated with higher levels of unemployment during recessions and recoveries.
목차
1. INTRODUCTION
2. LABOR MARKET DYNAMICS DURING THE “GREAT RECESSION”
3. WHAT EXPLAINS THE LABOR MARKET DYNAMICS ACROSS COUNTRIES?
4. WHAT DO THE EMPIRICAL RESULTS SUGGEST FOR THE EMPLOYMENT OUTLOOK?
5. CONCLUDING REMARKS
APPENDIX
REFERENCES
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UCI(KEPA) : I410-ECN-0101-2010-320-002720170