KDI Journal of Economic Policy

open access

Journal Archive

Home > Journal Archive

P-ISSN 1738-656X

Vol.26, No.2

Cite

KDI 정책연구. Vol. 26, No. 2, December 2004, pp. 143-178

https://doi.org/10.23895/kdijep.2004.26.2.143

× KDI Open Access is a program of fully open access journals to facilitate the widest possible dissemination of high-quality research. All research articles published in KDI JEP are immediately, permanently and freely available online for everyone to read, download and share in terms of the Creative Commons Attribution 4.0 International License.

Changes in the Weekly Working Hours and the Efficiency of Labor, 1963～2003

Dong seok Kim

Author & Article History

Manuscript .

Abstract

For a thorough accounting for economic growth, it is desired to include the working hours and the efficiency of labor as production factors in addition to the number of workers and human and physical capital stocks. This paper estimates the distribution of weekly working hours of total workers as a continuous variable using the maximum likelihood method, estimates the efficiency of labor as a function of working hours using wage statistics, and by combining these results, estimates the labor efficiency index in Korea for the period 1963～2003. Estimation results show that the efficiency of labor was maximized when the weekly working hours was 40 hours, and the average annual growth rate of the labor efficiency for the period 1963～2003 was 0.14 percent.

Keywords

주당 취업시간(weekly working hours), 노동능률(efficiency of labor)

JEL Code

O40, J20

2641Download
12410Viewed