Factors Related to the Risk of a Substantial Income Decrease between 2006 and 2008 in South Korea

Hong, E.J. & Hanna, S.D. (2017). Factors related to the risk of a substantial income decrease between 2006 and 2008 in South Korea. The Singapore Economic Review, Forthcoming

28 Pages Posted: 21 Aug 2017

See all articles by Eunice Hong

Eunice Hong

Korean Women’s Development Institute; Ohio State University - Consumer Sciences Department; Sungshin Women's University

Sherman D. Hanna

Ohio State University (OSU)

Date Written: August 16, 2017

Abstract

Between 2006 and 2008, 9% of Korean households had an income decrease of 50% or more, a rate almost identical to the U.S., despite the much lower impact of the global financial crisis on Korea. We ran a logistic regression to determine factors related to the likelihood of a substantial income decrease between 2006 and 2008 for Korean households. The likelihood of a substantial decrease was low for households below the 75th percentile of 2006 income, probably due to differences in composition of income. Households with college education were less likely than those without college to have a substantial decrease.

Keywords: household income, global economic crisis, Korean households, Korean Labor and Income Panel Study

JEL Classification: D12, D14, D31, D33, D91, G01

Suggested Citation

Hong, Eunice and Hanna, Sherman D., Factors Related to the Risk of a Substantial Income Decrease between 2006 and 2008 in South Korea (August 16, 2017). Hong, E.J. & Hanna, S.D. (2017). Factors related to the risk of a substantial income decrease between 2006 and 2008 in South Korea. The Singapore Economic Review, Forthcoming. Available at SSRN: https://ssrn.com/abstract=3020052

Eunice Hong

Korean Women’s Development Institute ( email )

225 Jinheung-ro Eunpyeong-gu
Seoul, 03367
Korea, Republic of (South Korea)
82-2-3156-7139 (Phone)
82-2-3156-7276 (Fax)

Ohio State University - Consumer Sciences Department ( email )

United States

Sungshin Women's University ( email )

249-1 Dong-Dong 3-Ka Sungbuk-Ku
Seoul 136-742
Korea, Republic of (South Korea)

Sherman D. Hanna (Contact Author)

Ohio State University (OSU) ( email )

1787 Neil Avenue
Campbell 265D
Columbus, OH 43210
United States
614-292-4584 (Phone)

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