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KMID : 1124020190350020035
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Korean Social Security Studies
2019 Volume.35 No. 2 p.35 ~ p.61
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Types of income movements of the poor after the economic crisis
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Noh Hye-Jin
Kim Hyun-Jung
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Abstract
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The purpose of this study is to examine the pattern of income mobility for the next 19 years in 389 households who were poor at the time of IMF economic crisis. To do this, we performed sequence analysis through the Korea Labor Panel Survey. The results of the analysis, 60-65% of households who were poor at the time of the economic crisis were unable to escape from low income status below the third quintile for the past 19 years. Second, the analysis of income mobility patterns of poverty households revealed three types: low-income continuous type, middle income type, and high income entry type. Low-income continuous type accounted for an overwhelming share of 50.3% of all cases. Third, in the case of ‘low-income continuous type’, the age of the householder was the highest, and the proportion of the female householder was the highest, and the education level was the lowest. On the other hand, ‘high-income entry type’ accounts for only 10% of the cases. Households have the highest education level and earning income and real estate income are remarkably high in the initial stage immediately after IMF. Finally, we analyzed the factors of each type and found that the younger the householder is and the higher the number of family members, the higher the likelihood of ‘middle-income type’ or ‘high income entry type’. In addition, income components and income levels at the initial stage immediately after the IMF, such as average earnings, social insurance income, and financial assets, influenced the pattern of the next 20 years. Based on the results of this analysis, this study suggested the establishment of a standardized wage system to guarantee a stable earned income, a combination of income security and active labor market policy, and a review of concept about income redistribution.
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KEYWORD
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IMF economic crisis, income mobility, sequence analysis, types of poverty, poverty dynamics, income quintile
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