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• W2044865501 abstract "This paper establishes the empirical model based on Hall`s(1990) and Basu` s(1996) models, estimates the five types of productivity in the medical service industry over the period 1975:1-2010:4, and analyzes the cyclicality of measured productivities and their correlations with the industrial real wage. The empirical results are summarized as the followings. First, there proved to be substantial market power in pricing and returns to scale in production for the medical service industry. Second, the three types of productivity among 5 types showed to be procyclical. Third, the average labor productivity, the original Solow residual, and the cost-based Solow residual are expected to provide reasonable indexes in analyzing the relationship between productivity and real wage." @default.
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• W2044865501 date "2014-04-30" @default.
• W2044865501 modified "2023-09-24" @default.
• W2044865501 title "An Empirical Analysis on Market Power and Productivity in the Korean Medical Service Industry" @default.
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• W2044865501 doi "https://doi.org/10.9723/jksiis.2014.19.2.093" @default.
• W2044865501 hasPublicationYear "2014" @default.
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