Contents

Economic Effects of Unemployment Insurance for Entrepreneurs in South Korea

Kim, Jiyeon

DC Field Value Language
dc.contributor.authorKim, Jiyeon-
dc.date.accessioned2024-10-04T00:30:35Z-
dc.date.available2024-10-04T00:30:35Z-
dc.date.issued2024-08-31-
dc.identifier.urihttps://archives.kdischool.ac.kr/handle/11125/57075-
dc.description.abstractThis paper aims to examine the economic impact of the implementation of an unemployment insurance (UI) program for entrepreneurs in South Korea. Despite facing labor market risks similar to paid employees, entrepreneurs are often not eligible for UI in many countries. South Korea, where entrepreneurs represent over 20% of the workforce, is considering a design of UI for entrepreneurs, with the goal of providing coverage to this group by 2025. This study examines how the addition of UI for entrepreneurs would impact the economy using a model of entrepreneurship based on a search and matching framework. The study’s findings suggest that the implementation of UI for entrepreneurs would lead to increased business closures and reduced hiring, resulting in a slack labor market, which in turn would reduce social welfare overall. However, social welfare can be improved by subsidizing UI contributions paid by entrepreneurs, which provides the greatest improvement in social welfare compared to other social protection systems such as unemployment assistance.en_US
dc.languageengen_US
dc.publisherKorea Development Instituteen_US
dc.titleEconomic Effects of Unemployment Insurance for Entrepreneurs in South Koreaen_US
dc.typeArticleen_US
dc.identifier.bibliographicCitationKDI Journal of Economic Policy, vol. 46, no. 3, pp. 67-91-
dc.citation.endPage91en_US
dc.citation.number3en_US
dc.citation.startPage67en_US
dc.citation.titleKDI Journal of Economic Policyen_US
dc.citation.volume46en_US
dc.identifier.doihttps://doi.org/10.23895/kdijep.2024.46.3.67-
dc.subject.keywordEntrepreneurshipen_US
dc.subject.keywordUnemployment Insuranceen_US
dc.subject.keywordSearch and Matchingen_US
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