Chapter

Labor Force Participation of Older Males in Korea: 1955 to 2005

Chulhee Lee

in The Economic Consequences of Demographic Change in East Asia

Published by University of Chicago Press

Published in print October 2010 | ISBN: 9780226386850
Published online February 2013 | e-ISBN: 9780226386881 | DOI: http://dx.doi.org/10.7208/chicago/9780226386881.003.0009
Labor Force Participation of Older Males in Korea: 1955 to 2005

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This chapter investigates labor force participation (LFP) of older males (sixty and above) in Korea over the last fifty years, taking advantage of the availability of a long span of data through the Population and Housing Census. The chapter shows that there was a substantial decline in LFP from 1997 to 2000, most likely due to the East Asian financial crisis. An econometric model of LFP is examined that uses data that were pooled over time, and links it to education, marital status, family size, and various regional characteristics. The chapter uses empirical analysis that employs a relatively untouched micro data set concerning housing and population. It is concluded that older males in rural areas tend to stay in the labor force longer involuntarily because of insufficient savings.

Keywords: labor force participation; labor force participation; Korea; Population and Housing Census; econometric model; older males

Chapter.  16555 words.  Illustrated.

Subjects: Business and Management

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