• Journal of the Korean Home Economics Association
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• v.36 no.11
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• pp.209-218
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• 1998

The purpose of this study was to conduct the review of female labor suply, and thus, to provide useful theoretical and empirical frameworks for future studies related to female labor supply. Based on the theory of the allocation of time, the process of individual labor supply was systematically reviewed. Participation Probit/Logit, Tobit, and Selection B;ias Corrected Regression were considered in estimating the function of female labor supply which modifies the selection bias. Based on the previous empirical results, wage rate, asset income, husband's income, the level of eduction, and child-related variables such as the presence of child and the number of children might be considered for the empirical specification of female labor supply.

• Journal of Labour Economics
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• v.43 no.4
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• pp.143-177
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• 2020

This paper investigates how the provision of full child care subsidy to infants and toddlers differently affected female labor supply and fertility rate depending on the level of supply of child care centers in the place of residence. Our results on labor supply show that the higher the supply rate of childcare centers in residential areas, the higher the probability of career maintenance for multi-child mothers who are more likely to be admitted to a childcare facility. The results on the fertility rate show that the first child's fertility rate has increased since the support of childcare expenses in areas with higher rates of childcare centers. In the places where the supply rate of publicly-funded childcare centers is high, the second child's fertility rate has also increased significantly since the support of childcare expenses. This suggests that the quality of child care is an essential factor in determining the birth rate. Our results suggest that the effects of child care support on women's labor supply and fertility rate may differ depending on the priority of entering child care centers according to birth order and the degree of quantitative and qualitative supply of child care centers in the place of residence.

• Journal of Labour Economics
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• v.40 no.1
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• pp.37-68
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• 2017

This study analyzes the relationship between household debts and married female's labor supply. For doing this we construct effective interest rate faced by each household using interest paid amount and household financial debt amount. The effective interests rate for the households which have no financial debt are estimated by Heckman Selection model. The estimation results show that the increase in effective interest rate has led to the expansion of married women's the labor market participation. This suggests a possibility that negative scenarios resulting from an increase in interest rate can be partially offset by an increase in household labor supply and a rise in labor income.

• Journal of Labour Economics
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• v.24 no.1
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• pp.97-124
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• 2001

Co-residence is a type of intergenerational private transfers of resources: money, time and space. Adult daughters and their elderly parents decide to co-reside, depending on their utility levels before and after co-residence that mainly depend on the health status of the elderly. Therefore, co-residence implies positive net benefits to both parties in the sense that, when they co-reside, elderly parents share childcare and adult daughter provide elderly care. In other words, formal (paid) care can be substituted with informal (unpaid) one. Both marriage and giving births are considered as the major obstacles to labor market attachment of women who bear burdens of home production and childcare. Co-residence can be a solution for married women to avoid career interruption by sharing burdens with their elderly parents. However, most previous studies using the U.S. data on intergenerational private transfers focused on elderly care and have concluded that they reduce government expenditures associated with public subsidies to the elderly. This study focuses on adult daughters and it examines effects of co-residence on labor supply of married women in Korea, who face limited formal childcare programs in terms of both quantity and quality. It applies the Tobit model of married women's labor supply to the data from the Second Wave of the Korean Labor and Income Panel Survey( 1999), in order to investigate effects of co-residence and the work and health status of the co-residing elderly as well as their own health status. Four specifications of the empirical model are tested that each includes co-residence with elderly parents, their gender, or their work and health status. Estimation results show that co-residence, co-residence with female elderly, and co-residence with not-working female elderly have significant positive effects on labor supply of married women while poor health status of co-residing female elderly does not bring about any negative effects. However, co-residence with male elderly, regardless of their work and health status, has no significant effect The results indicate that co-residence is closely related to sharing of home production among female elderly and adult daughters who are married and, through intergenerational private transfers of resources in terms of time, it helps women avoid career interruption.

• Journal of Technology Innovation
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• v.4 no.1
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• pp.185-207
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• 1996

It is frequently pointed out that the Korean economy, with its scarce natural resources, would never have been able to achieve current levels of economic development without the massive provision of well-educated, hardworking human resources. Throughout the industrialization process ,full-fledged deployment and mobilization of qualified human resources have been the foundation to industrial policy and S&T policy. This paper describes the development of S&T human resources in Korea using various statistics including educational enrollment rates, unemployment rates, the allocation of researchers and R&D expenditures among sectors of performance, educational composition of employment within and across industries, technical human resource shortage rates, relative wage levels of SMEs, and composition of labor force by age-group and gender. While analyzing S&T human resources development, this paper discusses issues such as the mismatched demand and supply of skill and knowledge levels of the highly educated, the unbalanced distribution of S&T human resources between sectors, and the low utilization of the female and aged labor force. This paper suggests that the policy maker applies a hybrid of quantitative and qualitative policies to reduce the mismatches of supply and demand of skill and knowledge levels for each labor market categorized according to supply side.

• Korea journal of population studies
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• v.9 no.1
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• pp.41-53
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• 1986

The purpose of this paper is two-fold. One is to investigate the determinants of the demand supply of labor, and another is to project long-term demand and supply of labor. The paper consists of three parts. In the first part, theoretical models and important hypotheses are discussed: for the case of a labor supply model, issues regarding discouraged worker model, permanent wage hypothesis, and relative wage hypothesis are examined and for the case of a demand model, issues regarding estimating an employment demand equation within the framework of an inverted short-run produc- tion function are inspected. Particularly, a theoretical justification for introducing a demographic cohort variable in a labor supply equation is also investigated. In the second part, empirical results of the estimated supply and demand equations are analyzed. Supply equations are specified differently between primary and secondary labor force. That is, for the case of primary labor force groups including males aged 25 and over, attempts are made to explain the variations in participation behavior within the framework of a neo-classical economics oriented permanent wage hypothesis. On the other hand, for the case of females and young male labor force, variations in participation rates are explained in terms of a relative wage hypothesis. In other words, the participation behavior of primary labor force is related to short-rum business fluctuations, while that of secondary labor force is associated with intermediate swings of business cycles and demographic changes in the age structure of population. Some major findings arc summarized as follows. (1) For the case of males aged 14~19 and 2O~24 groups and females aged 14∼19, the effect of schhool enrollment rate is dominant and thus it plays a key role in explaining the recent declining trend of participation rates of these groups. (2) Except for females aged 20∼24, a demographic cohort variable, which captures the impact of changes in the age structure on participation behavior, turns out to show positive and significant coefficients for secondary labor force groups. (3) A cyclical variable produce significant coefficients for prime-age males and females reflecting that as compared to other groups the labor supply behavior of these groups is more closely related to short-run cyclical variations (4) The wage variable, which represents a labor-leisure trade-off turns out to yield significant coefficients only for older age groups (6O and over) for both males and females. This result reveals that unlike the experiences of other higer-income nations, the participation decision of the labor force of our nation is not highly sensitive with respect to wage changes. (5)The estimated result of the employment demand equation displays that given that the level of GNP remains constant the ability of the economy to absord labor force has been declining;that is, the elasticity of GNP with respect to labor absorption decreasre over time. In the third part, the results of long-term projections (for the period of 1986 and 1995) for age-sex specific participation rates are discussed. The participation rate of total males is anticipated to increase slightly, which is contrary to the recent trend of declining participation rates of this group. For the groups aged 25 and below, the participation rates are forecast to decline although the magnitude of decrease is likely to shrink. On the other hand, the participation rate of prime- age males (25 to 59 years old) is predicted to increase slightly during 1985 and 1990. For the case of females, except for 20∼24 and 25∼34 age groups, the participation rates are projected to decrease: the participation rates of 25∼34 age group is likely to remain at its current level, while the participation rate of 20∼24 age group is expected to increase considerably in the future (specifi- cally, from 55% in 1985 to 61% in 1990 and to 69% in 1995). In conclusion, while the number of an excess supply of labor will increase in absolute magnitude, its size as a ratio of total labor force is not likely to increase. However, the age composition of labor force is predicted to change; that is, the proportion of prime-age male and female labor force is projected to increase.

• Journal of Labour Economics
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• v.42 no.4
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• pp.1-29
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• 2019

This study estimates how changes in the female (aged 25 to 54) labor force participation rate (LFPR) following the historical experiences of the US and Japan would alter the future trend of the female economically active population by 2065, compared to the case in which the LFPR as of 2018 will remain unchanged. According to the results, the female labor force aged 25 to 54 will increase by 14% (about 797,000) and 15% (about 831,000), respectively, by 2042 if the female LFPR should change following the past trends of the US and Japan. In particular, the increase in the labor force is expected to be pronounced among females aged 30 to 44 who currently suffer high rates of job severance. The results of this study strengthen the prediction that the on-going population changes will not reduce much the overall economically active population in the near future. The result of a simulation based on the historical experiences of Japan suggests that, as least in the near future, policy efforts to encourage female labor supply will be more effective in alleviating the potential labor-market impacts of population changes, compared to policies aiming at increasing old-age employment.

• Korean Journal of Social Welfare
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• v.67 no.4
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• pp.279-299
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• 2015

This study examines the impact of Long-Term Care Insurance(LTCI) on family caregivers(especially focused on female household members) labor supply in South Korea. When public care and informal care are substitutes, LTCI will change allocation of time of family caregivers to spend more time to paid work. The impact of LTCI on labor supply depends on each country's institutional level of public care services. If public care can not substitute for informal care, labor supply of family caregivers will not rise significantly. The conclusions of vigorous empirical study from western countries' are incompatible and problem of endogeneity in terms of methodology has been raised consistently. The dataset of this study are used the third and ninth waves of Korea Welfare Panel. As a result, the introduction of LTCI had no effect on labor supply of household members. Robust findings suggest the positive effects of caregiving on labor market outcomes in simple comparison t-test, but not in fixed-effect regression. Compared with western countries, South Korea's public care services can be interpreted as a supplement to only part that remained at the level does not substitute informal care. These findings may suggest that if LTCI become much more prevalent in the future, senior citizens and family members will be able to choose the LTCI arrangement that best suits their needs.

• KDI Journal of Economic Policy
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• v.34 no.1
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• pp.169-197
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• 2012

It is often argued that the parental leave should be extended in order to help employees achieve the balance of work and family life. However, one should be careful in designing the parental leave since there is a tradeoff between the continuity of employment after childbearing and the depreciation of human capital due to the time off the work. The paper investigates whether the parental leave payment introduced in Korea in 2001 helped women's take-up of the leave and employment after giving birth. The results are as follows. First, the increase in the payment indeed raised the female take-up of the leave. Second, women returned to labor market less often after giving birth in the short run, but the size of the effect tends to decrease in the long run. However, the negative effect on returning to the same workplace after the birth remains significant in the long run. Lastly, there is no evidence that the share of women of childbearing age at workplace changed due to the increase in the parental leave payment. Although there is a limitation in that the analysis is based only on the employment covered by the Employment Insurance, these findings imply that the increase in the parental leave payment may not be an effective policy tool for promoting female labor market participation. On the other hand, it should be noted that it is necessary to pay attention to child development as well as female employment as an objective in order to make an overall judgement on the parental leave policy.

• Korea journal of population studies
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• v.31 no.1
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• pp.27-54
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• 2008

The purpose of this study is to analyze the effect of policy boosting fertility and labor participation rate on potential GDP growth rate. To do this, we employ a growth accounting approach, which decomposes per capita GDP into two parts. The first one is the change of dependency ratio and the other is the change of labor input. The labor input is again decomposed into the qualitative and quantitative parts. The quantitative part considers the change of labor participation rate and working time. The qualitative aspects is based on the trend of productivity of labor. From the scenarios of NSO(National Statistics Office), the effect of the fertility-raising policy on per capita potential GDP growth rate is calculated and projected to the year of 2050. We also forecast the policy effect inducing high labor participating rate of female labor and beyond 55-year old labor. The baseline results show that the per capita GDP growth rate will show mid 4% to the year of 2010, gradually declining to 3.94% by 2020, 3.03% by 2030, 2.41% by 2040. The high fertility rate scenario will not have effects on the potential growth by 2030, but show 0.10%p higher per capita GDP growth rate than that of baseline scenario result. By the high female labor participation policy, the per capita GDP growth rate will reach 0.04%p higher per capita GDP growth rate than that of baseline scenario. Based on the results of this paper, we conclude that the quantitative labor input cannot solely account for the trend decline of potential GDP, and the qualitative aspect, like labor productivity, is much more important element to sustain and boots the economic growth.