@article{ART001725901},
author={GiSeung Kim and 조현진 and Minsoo Jeong},
title={Hysteresis analysis on labor market of Busan},
journal={Journal of Regional Studies and Development},
issn={1738-3846},
year={2012},
volume={21},
number={2},
pages={31-53}
TY - JOUR
AU - GiSeung Kim
AU - 조현진
AU - Minsoo Jeong
TI - Hysteresis analysis on labor market of Busan
JO - Journal of Regional Studies and Development
PY - 2012
VL - 21
IS - 2
PB - Institute for Poverty Alleviation and International Development: IPAID
SP - 31
EP - 53
SN - 1738-3846
AB - Despite economic recovery the employment of Busan has not improved since the 2008 financial crisis. This led the local communities to be interested in understanding the causes and searching for the possible resolutions. This study finds out that the hysteresis of labor market in Busan may be the reason for this phenomenon.
Hysteresis analysis was carried out using two methods; ADF unit root test and Zivot and Andrews unit root test. Our analysis confirmed that there exists the hysteresis of labor market in Busan. Hysteresis was stronger in more fragile sectors such as manufacturing, SOC, and miscellaneous services. Among the age groups, the hysteresis was stronger for the youth. These findings imply that the recovery in employment is significantly slower than the recovery of the economy in general. In order to avoid the lack of employment due to the hysteresis, the governments should make efforts to persuade the businesses that the lay-off is not the only means to cope with the recession. Also the government should support the transition of jobs between industries as well as the start-up of new businesses. Special policy measures are called for in order to lower the cost of job creations in the process of economic recovery and to provide the proper supports to the long-span unemployed.
KW - labor market;unemployment;hysteresis JEL Classification: J6;E2
DO -
UR -
ER -
GiSeung Kim, 조현진 and Minsoo Jeong. (2012). Hysteresis analysis on labor market of Busan. Journal of Regional Studies and Development, 21(2), 31-53.
GiSeung Kim, 조현진 and Minsoo Jeong. 2012, "Hysteresis analysis on labor market of Busan", Journal of Regional Studies and Development, vol.21, no.2 pp.31-53.
GiSeung Kim, 조현진, Minsoo Jeong "Hysteresis analysis on labor market of Busan" Journal of Regional Studies and Development 21.2 pp.31-53 (2012) : 31.
GiSeung Kim, 조현진, Minsoo Jeong. Hysteresis analysis on labor market of Busan. 2012; 21(2), 31-53.
GiSeung Kim, 조현진 and Minsoo Jeong. "Hysteresis analysis on labor market of Busan" Journal of Regional Studies and Development 21, no.2 (2012) : 31-53.
GiSeung Kim; 조현진; Minsoo Jeong. Hysteresis analysis on labor market of Busan. Journal of Regional Studies and Development, 21(2), 31-53.
GiSeung Kim; 조현진; Minsoo Jeong. Hysteresis analysis on labor market of Busan. Journal of Regional Studies and Development. 2012; 21(2) 31-53.
GiSeung Kim, 조현진, Minsoo Jeong. Hysteresis analysis on labor market of Busan. 2012; 21(2), 31-53.
GiSeung Kim, 조현진 and Minsoo Jeong. "Hysteresis analysis on labor market of Busan" Journal of Regional Studies and Development 21, no.2 (2012) : 31-53.
