Suchergebnisse

Korea's minimum wage increased by 16.4% in 2018 to mark 7,530 won per hour. The increase is remarkable after a moderate, approximately 7% per year rise maintained in the past decade. Further, to reach the government's target of 10,000 won by 2020, the minimum wage needs to be raised by 15% in the next year and year after. Then, what does this mean for employment? This study examines the likely effects through foreign case studies and research in economics.

Since China's economic reform began, wages in state enterprises have increased at rates much faster than the rate of price inflation. This paper investigates the source of this rapid wage increase for a sample of Chinese state‐owned machine‐building enterprises to determine whether increased wages can be best explained by changes in productivity, changes in the output market, or changes in input markets. CES production function estimates find the marginal product of labor was stagnant between 1980 and 1992 but initially higher than wages. Rising wages were therefore consistent with other evidence that the reform process cost the state sector its labor monopsony.(JELP31)