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노동복지 및 노동보험

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(Working Paper 2016-01) LABOR INCOME SHARE AND INCOME INEQUALITY IN KOREA
  • 저자 Byung-Hee Lee
  • 출판일 2016.10.25
  • 판매가 비매품
  • 재고 재고없음
  • 페이지수 38 페이지
  • ISBN  
  • 목차
    I. Introduction 7

    II. Literature Review 8

    III. Trend in Labor Income Share: Inconsistency between National Account and Household Surveys 11

    IV. Corporate Savings and Top Income Share 15
    1. Decline in labor income share and rise in corporate savings 15
    2. Corporate savings and top incomes 20

    V. Relationship between Labor Share and Income Inequality in Household Surveys 22
    1. Analysis data 22
    2. Static factor decomposition of household income inequality by income source 23
    3. Dynamic factor decomposition of household income inequality y income source 26
    4. Factor decomposition using a simulation experiment 28

    VI. Summary and Policy Implications 32

    References 34
  • 요약
    There are different arguments about the relationship between functional
    and personal income distribution. Piketty (2014) offers a gloomy
    evaluation and outlook: When wealth increases faster than national
    income, the share of capital income out of national income rises, and as
    growth slows, the existing wealth becomes even more predominant. On
    the other hand, Chang (2015) argues that inequality in labor income,
    rather than that in capital income, is a more pressing issue in Korea.
    Such diagnosis leads to the suggestion that mitigating the duality in the
    labor market is the priority over income distribution between production
    factors.
    Although there is a near consensus that primary distribution between
    production factors is worsening in Korea, it is not yet clear how it is related
    to personal income inequality. This paper reviews the relationship
    between labor income share and household income inequality, and is
    structured as follows. Following a brief overview of previous literature
    in Chapter Ⅱ, Chapter Ⅲ notes the discrepancy in the labor income
    share between the National Account and household surveys. Labor income
    share in Korean household surveys has been surprisingly increasing,
    but this could be attributed to the underestimation of property income.
    Chapter IV then points to the increase in corporate savings that
    do not circulate back to households as another reason why household
    surveys underestimate inequality between production factors. Compared
    with the developed economies, corporate savings have increased
    much more steeply in Korea since 2000 relative to the decline in labor
    income share. It also appears that the income share of top earners has
    increased faster than that of corporate savings. Chapter Ⅴ shows, using
    factor decomposition and simulation methods, that an increase in
    labor income share at the household level would help improve income
    inequality. Lastly, Chapter Ⅵ calls for a more equitable distribution of
    production factors to further rein in income inequality.
공공누리 마크 한국노동연구원 연구 발간물 보호 저작물 '공공누리' 출처 표시, 상업적 이용금지, 변경금지 조건에 따라 이용하실 수 있습니다.
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1 (Working Paper 2016-01) LABOR INCOME SHARE AND INCOME INEQUALITY IN KOREA Byung-Hee Lee 2016.10.25 (Working Paper 2016-01) LABOR INCOME SHARE AND INCOME INEQUALITY IN KOREA 바로보기
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