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154 records from EconBiz based on author Name
1. Health capacity to work at older ages in the Republic of Korea
abstractUsing the Milligan and Wise (2015) and Cutler, Meara, and Richards-Shubik (2013) methodologies, we examine (i) how much would people today with a given mortality rate or life expectancy work if they were to work as much as those with the same mortality rate worked in the past, and (ii) how much could older adults extend their working lives if their health status improved. The results point to a sizable health capacity to work (HCW) among both older Korean men and women. Furthermore, the results imply that HCW is concentrated among more educated urban senior residents with access to the statutory pension system. We explain our results in the context of the Republic of Korea's labor markets and old-age support systems. The results for the Republic of Korea imply that the previous results for other high-income economies, such as European countries and the United States, may not be applicable to high-income economies with underdeveloped pension systems.(Asian Dev Rev/GIGA)
Lee, Sang-hyop; Park, Cheol-Kon; Kim, Hyun Kyung; Park, Donghyun;2024
Type: Aufsatz in Zeitschrift; Article in journal;
Availability:
Link 2. Demographic change, economic growth, and old-age economic security : Asia and the world
abstractAsia is aging, although there is significant heterogeneity across subregions and economies. Population aging poses two strategic challenges for the region: sustaining economic growth and delivering old-age economic security. In this paper, we leverage the lifecycle perspective-that individuals' consumption and labor income differ at each age-and the National Transfer Accounts database to construct and analyze key economic indicators. Our analysis confirms that demographic change will challenge the region's future growth and increase the cost of funding the consumption of the elderly. We also find that it will have a substantial impact on the public finances of some Asian economies. (Asia Dev Rev/GIGA)
Mason, Andrew; Lee, Sang-hyop; Park, Donghyun;2022
Type: Aufsatz in Zeitschrift; Article in journal;
Availability:
Link 3. Paid childcare leave, fertility, and female labor supply in South Korea
abstractWe consider the effects of a paid childcare leave subsidy on maternal behavior in South Korea using a difference-in-difference design and a fertility survey with information on conception, contraception, and labor supply arrangements. Childcare subsidies increased conception and decreased contraception. The arc elasticities of the responses of conception and contraception to the childcare subsidy are 0.65 and -0.10, respectively. However, we do not find effects on employment arrangements. In a country with the lowest total fertility rate in the world and that often performs middling in rankings of gender inequality, we conclude that paid childcare leave for working women confers some positive benefits.
Kim, Kyeongkuk; Lee, Sang-hyop; Halliday, Timothy;2022
Type: Graue Literatur; Non-commercial literature; Arbeitspapier; Working Paper;
Availability:
Link Link 4. Population aging and debt
Lee, Sang-hyop; Mason, Andrew; Park, Donghyun;2022
Type: Aufsatz im Buch; Book section;
Availability: Link Link
5. Population aging and the three demographic dividends in Asia
abstractThe present study first examines the trends in age structural shifts in selected Asian economies over the period 1950–2050 and analyzes their impact on economic growth in terms of the first and second demographic dividends computed from the system of National Transfer Accounts. Then, using the National Transfer Accounts, we analyze the effect of the age structural shifts on the pattern of intergenerational transfers in Japan; the Republic of Korea; and Taipei,China. A brief comparison of the results reveals that, in the next few decades, the latter two are likely to follow in Japan's footsteps by increasing public transfers and asset reallocations, and by reducing familial transfers, particularly among older persons. Next, we consider a newly defined demographic dividend, which is generated through the use of the untapped work capacity of healthy older persons and to which we refer as “the silver” or “the third” demographic dividend. By drawing upon microlevel datasets obtained from Japan and Malaysia, we calculate the magnitude of the impact of that dividend on macroeconomic growth in each of the two economies, concluding that while in Japan the expected effect is substantial, in Malaysia it will take several decades before the country can enjoy comparable benefits. (Asian Dev Rev / GIGA)
Ogawa, Naohiro; Norma Mansor; Lee, Sang-hyop; Abrigo, Michael Ralph M.; Tahir Aris;2021
Type: Aufsatz in Zeitschrift; Article in journal;
Availability: Link Link
Citations: 17 (based on OpenCitations)
6. Paid childcare leave, fertility, and female labor supply in South Korea
Kim, Kyeongkuk; Lee, Sang-hyop; Halliday, Timothy;2021
Type: Graue Literatur; Non-commercial literature; Arbeitspapier; Working Paper;
Availability:
Link Link 7. Globalization and Aging - Implications for Korea
abstractThe recent episode of globalization has helped promote economic growth through trade and capital flows, but has also created vulnerability to external shocks. Korea’s globalization strategies are facing new challenges and opportunities since the global financial crisis in 2008. Korea needs to stay competitive in the changing pattern of global trade by taking advantage of the rise of emerging markets and upgrading its export structure in response to increasing global competition. The expansion of global production networks would provide enormous market opportunities for Korea. Industrial and trade policies should support potential high growth firms in identifying and developing the capabilities in expanding their access to the global supply networks. Global firms tends to be bigger, more productive, and more skill-and capital-intensive; and to pay higher wages than non-global firms. The government should undertake comprehensive innovation and entrepreneurship policies to strengthen firms’ capacity to compete in the global markets.Population aging poses a great threat to Korea’s growth potential. While demographic trends were conducive to economic growth in the past, they will no longer be so in the future. The experience of advanced countries suggests that the responses to aging population can lead to very different outcomes. Korea’s two major strategic options for aging are to sustain strong economic growth in the face of aging over the next few decades, and to develop social systems that will provide economic security to a growing number of elderly people. Success in achieving these two objectives will require policies that promote savings, investment in human capital, well-functioning financial and labor markets, and macroeconomic stability. It will also require avoiding disproportionately large transfer programs for the elderly
Youn, Woojin; Lee, Sang-hyop;2022
Availability: Link Link
8. Paid childcare leave, fertility, and female labor supply in South Korea
Kim, Kyeongkuk; Lee, Sang-hyop; Halliday, Timothy;2023
Type: Aufsatz in Zeitschrift; Article in journal;
Availability:
Link Citations: 1 (based on OpenCitations)
9. Intra-familial transfers, son preference, and retirement behavior in South Korea
Kim, Kyeongkuk; Lee, Sang-hyop; Halliday, Timothy;2020
Type: Graue Literatur; Non-commercial literature; Arbeitspapier; Working Paper;
Availability:
Link 10. Population Aging and the Three Demographic Dividends in Asia
abstractThe present study first examines the trends in age structural shifts in selectedAsian economies over the period 1950–2050 and analyzes their impact oneconomic growth in terms of the first and second demographic dividendscomputed from the system of National Transfer Accounts. Then, using theNational Transfer Accounts, we analyze the effect of the age structural shiftson the pattern of intergenerational transfers in Japan; the Republic of Korea;and Taipei,China. A brief comparison of the results reveals that, in thenext few decades, the latter two are likely to follow in Japan’s footsteps byincreasing public transfers and asset reallocations, and by reducing familialtransfers, particularly among older persons. Next, we consider a newly defineddemographic dividend, which is generated through the use of the untapped workcapacity of healthy older persons and to which we refer as “the silver” or “thethird” demographic dividend. By drawing upon microlevel datasets obtainedfrom Japan and Malaysia, we calculate the magnitude of the impact of thatdividend on macroeconomic growth in each of the two economies, concludingthat while in Japan the expected effect is substantial, in Malaysia it will takeseveral decades before the country can enjoy comparable benefits
Ogawa, Naohiro; Norma Mansor; Lee, Sang-hyop; Abrigo, Michael Ralph M.; Tahir Aris;2021
Availability: Link