Advancing Labor Market Reforms in Korea PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Advancing Labor Market Reforms in Korea PDF full book. Access full book title Advancing Labor Market Reforms in Korea by Stella Tam. Download full books in PDF and EPUB format.
Author: Stella Tam
Publisher: International Monetary Fund
ISBN:
Category :
Languages : en
Pages : 25
Get Book Here
Book Description
This paper examines structural challenges facing the Korean labor market and analyzes the macroeconomic effects of potential labor market reforms. Our cross-country empirical analysis finds that easing of employment protection legislation tends to have positive macroeconmic effects during periods of strong growth but could turn contractionary in periods of slack. By contrast, increased spending on active labor market policies and reductions to the labor tax wedge tend to be more effective in periods of slack. Our analysis thus highlights the importance of considering economic and policy conditions when designing labor market reforms. Under the current disinflationary policy stance, the government’s focus on the working hour reform seems appriorate. With growth recovering, deregulation to reduce employment protection for regular workers can also be considered, combined with targeted support to vulnerable groups.
Author: Stella Tam
Publisher: International Monetary Fund
ISBN:
Category :
Languages : en
Pages : 25
Get Book Here
Book Description
This paper examines structural challenges facing the Korean labor market and analyzes the macroeconomic effects of potential labor market reforms. Our cross-country empirical analysis finds that easing of employment protection legislation tends to have positive macroeconmic effects during periods of strong growth but could turn contractionary in periods of slack. By contrast, increased spending on active labor market policies and reductions to the labor tax wedge tend to be more effective in periods of slack. Our analysis thus highlights the importance of considering economic and policy conditions when designing labor market reforms. Under the current disinflationary policy stance, the government’s focus on the working hour reform seems appriorate. With growth recovering, deregulation to reduce employment protection for regular workers can also be considered, combined with targeted support to vulnerable groups.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264269576
Category :
Languages : en
Pages : 179
Get Book Here
Book Description
This report evaluates the comprehensive labour market reforms undertaken in Portugal in 2011-15. It reviews reforms in employment protection legislation, unemployment benefits, activation, collective bargaining, minimum wages and working time, and assesses the available evidence on their impact.
Author: Yangkyoon Byeon
Publisher: International Monetary Fund
ISBN: 1484329937
Category : Business & Economics
Languages : en
Pages : 41
Get Book Here
Book Description
Korea is facing mounting economic challenges. Productivity growth has been on a trend decline amid demographic headwinds, while the societal demand for inclusive growth has been on a steep rise. Furthermore, the government-led unbalanced growth model—which served Korea well in the past—has become less effective and politically palatable in recent years. As such, Korea needs a major paradigm shift to embark on a new sustainable and inclusive growth path. But policy response has been modest at best with no major reforms being implemented over the past two decades. We propose a paradigm shift in Korea’s economic framework, involving a simultaneous big push for greater economic freedom and stronger social protection within the parameters set by long-run fiscal sustainability. We also provide a detailed account of structural reforms to boost economic freedom and sustainable funding plans for stronger social protection.
Author: Young-Hyun Lee
Publisher:
ISBN:
Category : Labor policy
Languages : en
Pages : 146
Get Book Here
Book Description
Author: Gabriele Ciminelli
Publisher: International Monetary Fund
ISBN: 1484373723
Category : Business & Economics
Languages : en
Pages : 72
Get Book Here
Book Description
Labor market deregulation, intended to boost productivity and employment, is one plausible, yet little studied, driver of the decline in labor shares that took place across most advanced economies since the early 1990s. This paper assesses the impact of job protection deregulation in a sample of 26 advanced economies over the period 1970-2015, using a newly constructed dataset of major reforms to employment protection legislation for regular contracts. We apply the local projection method to estimate the dynamic response of the labor share to our reform events at both the country and the country-industry levels. For the latter, we employ a differences-in-differences identification strategy using two identifying assumptions grounded in theory—namely that job protection deregulation should have larger negative effects in industries characterized by (i) a higher “natural” propensity to adjust the workforce, and (ii) a lower elasticity of substitution between capital and labor. We find a statistically significant, economically large and robust negative effect of deregulation on the labor share. In particular, illustrative back-of-the-envelope calculations suggest that job protection deregulation may have contributed about 15 percent to the average labor share decline in advanced economies. Together with existing evidence regarding the macroeconomic gains from job protection and other labor market reforms, our results also point to the need for policymakers to address efficiency-equity trade-offs when designing such reforms.
Author: Angana Banerji
Publisher: International Monetary Fund
ISBN: 1475583974
Category : Business & Economics
Languages : en
Pages : 120
Get Book Here
Book Description
Product and labor market reforms are needed to lift persistently sluggish growth in advanced economies. But reforms have progressed slowly because of concerns about their distributive and short-term economic effects. Our analysis, based on new empirical and numerical analysis and country case-studies shows that most labor and product market reforms can improve public debt dynamics over the medium-term. This because reforms raise output by boosting employment and/or labor productivity. But the effect of some labor market reforms on budgetary outcomes and fiscal sustainability depends critically on business cycle conditions. Our evidence also suggests that some temporary and well-designed up-front fiscal stimulus can help enhance the economic impact of reforms. In the past, countries have used fiscal incentives in the past to facilitate reforms by alleviating transition and social costs. But strong ownership of reforms was crucial for their successful implementation.
Author: Christian Bodewig
Publisher: World Bank Publications
ISBN: 1464802319
Category : Business & Economics
Languages : en
Pages : 193
Get Book Here
Book Description
The demand for workforce skills is changing in Vietnam’s dynamic economy. In addition to job-specific skills, Vietnamese employers value cognitive skills, like problem solving, and behavioral skills, like team work. This book presents an agenda of change for Vietnam’s education system to prepare workers to succeed in Vietnam’s modernizing economy.
Author: Angela B. Cornell
Publisher: Cambridge University Press
ISBN: 1108879632
Category : Law
Languages : en
Pages : 385
Get Book Here
Book Description
We are currently witnessing some of the greatest challenges to democratic regimes since the 1930s, with democratic institutions losing ground in numerous countries throughout the world. At the same time organized labor has been under assault worldwide, with steep declines in union density rates. In this timely handbook, scholars in law, political science, history, and sociology explore the role of organized labor and the working class in the historical construction of democracy. They analyze recent patterns of democratic erosion, examining its relationship to the political weakening of organized labor and, in several cases, the political alliances forged by workers in contexts of nationalist or populist political mobilization. The volume breaks new ground in providing cross-regional perspectives on labor and democracy in the United States, Europe, Latin America, Africa, and Asia. Beyond academia, this volume is essential reading for policymakers and practitioners concerned with the relationship between labor and democracy.
Author: OECD
Publisher: Org. for Economic Cooperation & Development
ISBN: 9789264201859
Category : Age and employment
Languages : en
Pages : 0
Get Book Here
Book Description
Currently, Japan has the highest old-age dependency ratio of all OECD countries, with a ratio in 2017 of over 50 persons aged 65 and above for every 100 persons aged 20 to 64. This ratio is projected to rise to 79 per hundred in 2050. The rapid population ageing in Japan is a major challenge for achieving further increases in living standards and ensuring the financial sustainability of public social expenditure. However, with the right policies in place, there is an opportunity to cope with this challenge by extending working lives and making better use of older workers' knowledge and skills. This report investigates policy issues and discusses actions to retain and incentivise the elderly to work more by further reforming retirement policies and seniority-wages, investing in skills to improve productivity and keeping up with labour market changes through training policy, and ensuring good working conditions for better health with tackling long-hours working culture.
Author: Ju-Ho Lee
Publisher: Edward Elgar Publishing
ISBN: 1786436973
Category : Economic development
Languages : en
Pages : 431
Get Book Here
Book Description
During recent decades, Korea has been one of only a handful of countries that have made the successful transformation to become a developed nation by simultaneously achieving persistent economic growth combined with a democratic political system. Experts and political leaders worldwide have attributed this achievement to investments in people or, in other words, the power of education. Whilst numerous books have highlighted the role of industrial policies, technological growth, and international trade in Korea’s development process, this is one of the first to focus on the role of human capital. It shows how the accumulation of human capital aided transformation and helps explain the policies, strategies and challenges that Korea faces now and in the future.
