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Essays on Labor Market and Human Capital – Korea and Germany

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Mee-Kyung Jung

Since 2004, more than 80% of all high school graduates in Korea went on to university or at least junior college, although higher educated people suffer more seriously from unemployment. In human capital theory, reducing the unemployment rate when increasing the level of education was determined to be a stylized fact. But the current situation in Korea does not justify the theory. Using the Korean Labor and Income Panel Study and the German Socio-Economic Panel three empirical essays aim to find the corresponding reasons and solutions. Koreans’ strong interest in university studies could be caused by lack of promising alternatives. An enhancement of the job training system along German lines seems to offer a reasonable solution to the oversupply of university graduates in Korea.

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Tables...................................................................................................................12 Figures .................................................................................................................15 General Introduction .........................................................................................17 1. What can Job Training do? Is University the Sole Way of Life? – The Effects of School Education and Job Training on Wages in Korea ........................................................................................................25 1.1. Introduction .......................................................................................25 1.2. Education System in Korea ..............................................................28 1.3. Theory, Model and Problems of Estimation...................................31 1.4. Data and Descriptive Statistics ........................................................38 1.5. Estimation Methods and Results .....................................................40 1.5.1. Random Effects Estimation....................................................41 1.5.2. Heckman 2 Step Estimation ...................................................43 1.5.3. Other Findings........................................................................46 1.6. Conclusion..........................................................................................48 References ...........................................................................................................52 Appendix .............................................................................................................56 2. Effects of School Education and Job Training on Earnings in Korea and Germany. A Comparative Study .......................................75 2.1. Introduction .......................................................................................75 2.2. Difference of School Education and Job Training between Korea and Germany ..........................................................78 2.2.1. School Systems in Korea and Germany.................................78 10 2.2.2. Vocational Training at the Upper Secondary Education in Korea and Germany ...........................................................82 2.2.3. Job Training after Schooling in Korea and Advanced Job Training in Germany..............................................................84 2.3. Model and Methods...........................................................................86 2.4. Data and Descriptive Statistics ........................................................88 2.4.1. Data.........................................................................................88 2.4.2. Descriptive Statistics ..............................................................89 2.5. Estimation Results.............................................................................93 2.5.1. Estimation Results using the Variables: Education Levels and Job Training.....................................................................93 2.5.2. Estimation Results using the Variables: Educational Duration and Job Training .....................................................96 2.5.3. Job Training Effects on Earnings including Interaction Terms and Variables for Earlier Years in Job Training.........98 2.5.4. Other Findings........................................................................99 2.6. Conclusion .............................................................................................101 References .........................................................................................................105 Appendix ...........................................................................................................109 3. Women’s Career and Children – Human Capital and Earnings of Women in Korea and Germany. A Comparative Study .......................142 3.1. Introduction .....................................................................................142 3.2. Education, Employment and Fertility Rate of Women in Korea and Germany...

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