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Effects of wage-peak system on youth employment: Evidence from South Korea

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  • Chung Choe
  • Sung Hoon Kang
  • Koangsung Choi

Abstract

After the increase in the minimum retirement age, South Korea introduced a wage-peak system to mitigate increases in firm costs due to the wage of elderly workers. In this study, we examined how the later retirement age has affected employment opportunities for younger workers. We also investigated the difference in impact of later retirement on employment between firms within and outside of the system. Using the difference-in-differences empirical method, we found that this system has increased employment opportunities for younger workers. Moreover, as the proportion of elderly workers increases, the effect of the wage-peak system on the proportion of young workers is enhanced.

Suggested Citation

  • Chung Choe & Sung Hoon Kang & Koangsung Choi, 2021. "Effects of wage-peak system on youth employment: Evidence from South Korea," Applied Economics, Taylor & Francis Journals, vol. 53(43), pages 4975-4984, September.
    • Handle: RePEc:taf:applec:v:53:y:2021:i:43:p:4975-4984
    DOI: 10.1080/00036846.2021.1912697
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    Cited by:

    1. Jin, Eunae & Kim, Danya & Jin, Jangik, 2022. "Commuting time and perceived stress: Evidence from the intra- and inter-city commuting of young workers in Korea," Journal of Transport Geography, Elsevier, vol. 104(C).

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