Abstract
Korea’s high unemployment rate has returned to the pre-financial crisis level of 1997. However, Korean workers still have the longest working hours among OECD countries. Labor unions and the government are pursuing a reduction in legal working hours to improve quality of life. We investigated the short-run production effects of the reduction in legal working hours on the Korean economy by industry. A two-stage approach was applied. The main result showed that the short-run production effect on the Korean economy was negative in all industries. The manufacturing industry was most severely affected by the reduction in legal working hours.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
