• Journal of the Korean Society for Industrial and Applied Mathematics
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• 제18권4호
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• pp.283-294
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• 2014

In this paper we study consumption-labor supply decision of an agent who prepares for retirement at a known time in the future. The agent is assumed to have a preference which is represented by the von Neumann-Morgenstern utility function in which the felicity function has constant relative risk aversion over the composite of consumption and leisure. The composite is obtained by the Cobb-Douglas function. A general problem has been studied by Bodie et al. (2004). We contribute to the literature by deriving the Slutsky equations and conducting comparative statics. In particular, we show that wealth effect can exhibit an interesting property depending upon the time until retirement, as the interest rate increases.

• Communications for Statistical Applications and Methods
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• 제27권6호
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• pp.649-673
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• 2020

This paper makes a theoretical contribution by providing clear and detailed derivation of economic agents' decision problems including elastic labor supply in Gertler's overlapping generation (OLG) model. We apply the model to the Korean economy by calibration based on Korean economic data. It also analyzes the impact of current social issues such as aging and extension of retirement age, on the Korean economy in a long-run equilibrium. Subsequently, we also discuss the implications of the analysis. Aging has prolonged the period of retirement; therefore, population structure changes by the increase in the proportion of retirees, the total consumption-to-GDP ratio decreases, and capital stock increases due to reduced propensity to consume out of wealth in preparation for an individual's retirement life. The implementation of retirement age extension increases the proportion of retirees relatively less and alleviates fluctuations in labor supply and the share of financial assets for both economic agents. However, the decrements in consumption-to-GDP ratio is larger than before, and this leads to a larger rise in the capital stock compared to when there is only an aging effect.

• 지역연구
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• 제14권1호
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• pp.109-126
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• 1998

We analysed the determinants of part-timer labor demand and supply in Kwangju. The findings of the paper are as follows; First, firms employ part-timer workers in the unskilled or skilled jobs not demanding much training cost. There are two reasons for firms to employ part-time workers: labor cost cut and flexible employment adjustment. Estimated wage differential is 40% not including fringe benefits differential. Second, we find lots of married women to want part-time jobs. The more probably married women choose part-time work, the younger and the less educated they are, and the less kids and the less other income they have.

• 경제분석
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• 제26권4호
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• pp.39-64
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• 2020

전형적인 경기변동모형의 경우 노동시간 선택 문제만을 고려하여 노동시장의 주요 거시 변수인 고용과 실업을 명시적으로 설명하지 못하는 어려움이 있다. 본 논문에서는 뉴 케인지안 유형의 가격 경직성 모형에 노동시장의 탐색 및 매칭 마찰을 도입하고 이를 베이지안 방법으로 추정하여 우리나라 고용 및 실업의 움직임을 전체 경기변동의 움직임에 비추어 살펴보았다. 추정 결과 우리나라 실업률은 노동공급 충격과 더불어 노동수요 측면인 기술충격에 의하여 많은 부분 설명되는 것으로 나타났다. 아울러 노동시장 변동에서 기업과 노동자 간의 임금 협상에서 기인하는 협상력 충격도 상당 부분 중요한 것으로 나타났는데 협상력 충격은 경기 및 고용에 부정적인 영향을 미치므로 이에 대하여 주의를 기울일 필요가 있다.

• 노동경제논집
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• 제43권1호
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• pp.59-91
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• 2020

최근 맞벌이 가구 자녀에게 어린이집 입소 1순위를 부여하여 보육시설 이용에서 맞벌이 가구에게 우선순위를 부여하는 정책 기조가 강화되어 왔다. 본 연구는 한국노동패널 19~21차연도 자료를 이용하여 취업모 우선 보육정책이 강화된 시기 보육시설이 기혼여성 취업에 미치는 영향을 분석했다. 취업모 우선 보육정책은 취업 가능성이 높은 기혼여성을 시설 이용에서 배제하는 결과를 초래할 가능성이 있다. 한계 처치효과(MTE) 분석 방법을 사용하여 보육수요가 공급을 초과하는 경우 우선순위에 따라 정책 대상이 되는 부분 모집단이 결정되게 되는 선택편의를 제거했다. 분석 결과, 보육시설 이용하는 기혼여성의 취업 효과가 보육시설을 이용하지 않는 기혼여성의 취업 효과와 통계적으로 유의한 수준에서 차이가 없음을 시사한다.

• KDI Journal of Economic Policy
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• 제42권3호
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• pp.53-85
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• 2020

We examine how certain occupational physical requirements affect labor transitions of disabled workers by exploiting a unique feature of South Korean Disability Insurance (DI), where award rules are based solely on an applicant's medical condition, independent of his previous occupations. We estimate the labor market response to a health shock by constructing a physical intensity measure from O^⁎NET and applying it to longitudinal South Korean household panel data. Our results suggest that health shocks initially lead to a 14 to 20 percent drop in employment and that this effect is greater for workers who previously held physically demanding occupations. Those who remain part of the labor market exhibit higher occupational mobility toward less physically demanding jobs. These findings imply that the magnitudes of income risks associated with health shocks vary depending on occupational and skill characteristics.

• 산업융합연구
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• 제5권2호
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• pp.99-120
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• 2007

The purposes of this paper are to investigate mismatch in labor supply and demand on small and medium industries in Suwon region by conducting surveys to potential employees and employers, and to suggest alternative policy means to eliminate those mismatch conditions. Reasons of occupation change, difference in terms desired in occupation between potential employee and employer, understanding in mismatch, and measure of labor shortage by firms are analyzed in this paper. The report's recommendations to eliminate labor mismatch in small and medium industry are categorized into two groups: working conditions and occupation competence. Narrowing the working conditions gap, utilization of idle workers, establishment of flexible wage system are suggested to eliminate labor condition mismatch. In addition, potential employees need to meet working requirements by building up both wide use ability, occupation specific ability, and industry specific ability.

• 중국학논총
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• 제72호
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• pp.223-238
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• 2021

Most of the Chinese immigrants in the 19th century migrated to the eastern part of the Malay Peninsula via Penang. At that time, the British colonial government recruited Chinese immigrants to supply Chinese labor. The influence of the Chinese in Penang has been greatly increased due to the continuous influx of Chinese immigrants. Specifically, looking at Chinese immigration, from 1805 to 1815, a large number of Chinese labor migrants, from about 500 to 1,000, arrived from Macao to Penang, Malaysia, and they were all contract migrants. In the late 19th century, most of the Chinese in the Malay Peninsula were resettlement from Penang and Singapore. At that time, the Malay Peninsula desperately needed to clear the jungle for farm development, and thus a large-scale labor force was needed. Therefore, the Chinese labor force that was overflowing in Penang and Singapore was able to meet the demand for labor in the Malay Peninsula.

• Asian Journal of Innovation and Policy
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• 제12권3호
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• pp.363-382
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• 2023

This study aims to discern the determinants influencing the perception of workability among the elderly population and delineate an appropriate retirement age within the labor market context. Employing binary logistic regression, this research utilizes data from the Korea Welfare Panel Study (2008, 2012, 2016, and 2020) provided by the Korea Institute for Health and Social Welfare. The findings indicate that key factors shaping the elderly's perception of workability encompass familial responsibilities (household and marital status) and their levels of physical and mental well-being. Econometric analysis suggests an anticipated retirement age for the elderly population ranging between 67 and 69 years. In addressing labor market demands and informing policymakers, the study proposes deliberations on extending the retirement age for individuals aged 60 to 65. This range serves as a compromise between the identified retirement age of 67 to 69 and the current average retirement age for elderly labor market participants. Bridging the disparity between the perceived workability age and the prevailing labor market baseline is crucial for achieving social consensus. Therefore, any extension of the retirement age should carefully consider both the demand and supply perspectives within the labor market. The study's contribution lies in two main aspects: firstly, presenting a retirement age framework for the labor market that integrates the workability of the elderly population, and secondly, providing evidence-based research outcomes to guide informed labor policies.

• 경영과학
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• 제30권1호
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• pp.25-41
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• 2013

This paper presents a supply chain framework with the ODM (Original Design Manufacturing)-OEM (Original Equipment Manufacturing) hybrid production of textile industry in FTA (Free Trade Agreements) environments between Korea and other countries. The proposed supply chain framework with ODM-OEM hybrid production is a unique supply chain that has both domestic production with non-tariff advantages in FTA environment and oversea production with low labor costs. To investigate the validity of the proposed supply chain, we first construct its strategic profit model and supply chain planning and then show that each member of supply chain network-yarn manufacturer, fabric manufacturer, and apparel manufacturer-can maximize their own profits without conflicts among the members. The efficiency of the ODM-OEM hybrid production system is analytically verified in comparison with the general OEM and ODM production model using profit models. Comprehensive numerical examples are provided to illustrate the advantages of the proposed system.