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Working Paper
The Political Economy of the Linear Earnings Profile for Teachers in Korea

September 01, 2000

  • Author LEE. JoohoGyeongjoon Yoo
  • Series No. Working Paper 2000-05
  • Language English
PDF
Working Paper
The Political Economy of the Linear Earnings Profile for Teachers in Korea

September 01, 2000

  • Author LEE. JoohoGyeongjoon Yoo
  • Series No. 2000-05
  • Language English
PDF
    I. Introduction

    II. Earnings Profile

    III. Earnings Function

    IV. Seniority Pay and Productivity

    V. The Political Economy

    VI. Conclusions

    Bibliography
In Korea, teachers salaries continuously grow with seniority until they reach the
retiring point. We argue that not only the theory of human capital but also the
theories of delayed payment contracts fail to explain for this pattern. We then
explore an alternative explanation based on the political economic interpretation.
We argue that the previous regimes of Korea have utilized the linear earnings
profile by casting parts of their financial cost for hiring qualified teachers onto
the next regime, or the next generations, in the process of rapid expansion of
the educational system.
 
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The Department of Macroeconomics is conducting researches on the macro economy and macroeconomic policy, particularly focusing on suggesting the analysis of macroeconomic trends and current status of the economy at home and abroad, the economic forecast, and the policy direction of the macro economy. The Department is also in charge of establishing, sustaining and maintaining various econometric models, based on which it analyses policy effects and develops a long-term economic forecast.

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