SHERP

The Changes in the Cyclical Variability of Wages : Reexamining the Role of Social Wages

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Authors
Shim, JaeYong
Issue Date
1993
Publisher
Seoul Journal of Economics
Citation
Seoul Journal of Economics 6 (No. 1 1993): 65-80
Keywords
the reserve army; the cost of job loss; social wage ratio; SWR
Abstract
This paper critically reexamines a hypothesis that the increase in social wages was in part responsible for the decline in the cyclical variability of wages. In terms of both theoretical rationale and empirical evidence, we find that the hypothesis is fragile. We propose an alternative hypothesis that if social wages move in a strongly counter-cyclical fashion, then the cyclical variability of wages appears to decline without an overall increase in social wages. We find that some empirical results are consistent with our hypothesis.
ISSN
1225-0279
Language
English
URI
http://hdl.handle.net/10371/1012
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College of Social Sciences (사회과학대학)Institute of Economics Research (경제연구소)Seoul Journal of EconomicsSeoul Journal of Economics vol.06(1) (Spring 1993)
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