KJCKorea
Journal Central

@article{ART002299471},
author={Bae Eun Chong and Ko, Hyejin and Cho, Hyojin},
title={Is increasing of labor market policy expenditure effective policy tool to lessen the fiscal crisis in Welfare state? : The interaction between active and passive labor market policy},
journal={Korea Social Policy Review},
issn={1226-0525},
year={2017},
volume={24},
number={4},
pages={185-222},
doi={10.17000/kspr.24.4.201712.185}

TY - JOUR
AU - Bae Eun Chong
AU - Ko, Hyejin
AU - Cho, Hyojin
TI - Is increasing of labor market policy expenditure effective policy tool to lessen the fiscal crisis in Welfare state? : The interaction between active and passive labor market policy
JO - Korea Social Policy Review
PY - 2017
VL - 24
IS - 4
PB - Korean Association of Social Policy
SP - 185
EP - 222
SN - 1226-0525
AB - The purpose of this study is to investigate the effect of labor market policy on fiscal soundness of welfare state. The analysis was carried out using cross-sectional panel data regression analysis, stepwise mediating effect analysis and system GMM designed by Baron and Kenny(1986) based on the data from 1985 to 2015 for 20 OECD countries. In setting up the analysis model, this study considers the interaction effect between active and passive labor market policies as well as the time sequence of the outcomes which have been overlooked in the previous studies. The result shows that labor market policies have significant impacts on the fiscal condition of welfare states, which is measured as the levels of national debt in this study. Especially the expenditure on active labor market programs has a positive effect on improving the fiscal soundness of welfare states by promoting the employment rate. In contrast, passive labor market programs expenditure is negatively associated with employment rate growth and it exacerbates the burden of national debt in the short-term. However, when active labor market programs and passive labor market programs are combined, the negative impacts by passive pabor market policies on the fiscal soundness of welfare states are off-set. Therefore this study addresses that although the expansion of the labor market policies can be inimical to the fiscal soundness of welfare states in the short-term, in the long run, they can have effective roles in securing and promoting the fiscal soundness of the welfare states by promoting the employment rate.
KW - Welfare State;Fiscal Soundness;Labor Market Policy;Interaction;Employment Rate
DO - 10.17000/kspr.24.4.201712.185
ER -

Bae Eun Chong, Ko, Hyejin and Cho, Hyojin. (2017). Is increasing of labor market policy expenditure effective policy tool to lessen the fiscal crisis in Welfare state? : The interaction between active and passive labor market policy. Korea Social Policy Review, 24(4), 185-222.

Bae Eun Chong, Ko, Hyejin and Cho, Hyojin. 2017, "Is increasing of labor market policy expenditure effective policy tool to lessen the fiscal crisis in Welfare state? : The interaction between active and passive labor market policy", Korea Social Policy Review, vol.24, no.4 pp.185-222. Available from: doi:10.17000/kspr.24.4.201712.185

Bae Eun Chong, Ko, Hyejin, Cho, Hyojin "Is increasing of labor market policy expenditure effective policy tool to lessen the fiscal crisis in Welfare state? : The interaction between active and passive labor market policy" Korea Social Policy Review 24.4 pp.185-222 (2017) : 185.

Bae Eun Chong, Ko, Hyejin, Cho, Hyojin. Is increasing of labor market policy expenditure effective policy tool to lessen the fiscal crisis in Welfare state? : The interaction between active and passive labor market policy. 2017; 24(4), 185-222. Available from: doi:10.17000/kspr.24.4.201712.185

Bae Eun Chong, Ko, Hyejin and Cho, Hyojin. "Is increasing of labor market policy expenditure effective policy tool to lessen the fiscal crisis in Welfare state? : The interaction between active and passive labor market policy" Korea Social Policy Review 24, no.4 (2017) : 185-222.doi: 10.17000/kspr.24.4.201712.185

Bae Eun Chong; Ko, Hyejin; Cho, Hyojin. Is increasing of labor market policy expenditure effective policy tool to lessen the fiscal crisis in Welfare state? : The interaction between active and passive labor market policy. Korea Social Policy Review, 24(4), 185-222. doi: 10.17000/kspr.24.4.201712.185

Bae Eun Chong; Ko, Hyejin; Cho, Hyojin. Is increasing of labor market policy expenditure effective policy tool to lessen the fiscal crisis in Welfare state? : The interaction between active and passive labor market policy. Korea Social Policy Review. 2017; 24(4) 185-222. doi: 10.17000/kspr.24.4.201712.185

Bae Eun Chong, Ko, Hyejin, Cho, Hyojin. Is increasing of labor market policy expenditure effective policy tool to lessen the fiscal crisis in Welfare state? : The interaction between active and passive labor market policy. 2017; 24(4), 185-222. Available from: doi:10.17000/kspr.24.4.201712.185

Bae Eun Chong, Ko, Hyejin and Cho, Hyojin. "Is increasing of labor market policy expenditure effective policy tool to lessen the fiscal crisis in Welfare state? : The interaction between active and passive labor market policy" Korea Social Policy Review 24, no.4 (2017) : 185-222.doi: 10.17000/kspr.24.4.201712.185