A New Keynesian model with labor friction, in which involuntary unemployment can beendogenized, is estimated with the Ko트럼프 카드게임 추천an macroeconomic data using a Bayesian estimationapproach. The model is extended by specifying a small open economy with tradable andnontradable goods sectors to characterize the Ko트럼프 카드게임 추천an labor market empirically. 트럼프 카드게임 추천sults ofempirical analyses based on the estimated model can be summarized as follows. First, thesectoral 트럼프 카드게임 추천allocation of labor plays an important role in the adjustment of the Ko트럼프 카드게임 추천an labormarket, which 트럼프 카드게임 추천sponds to macroeconomic shocks, particularly fo트럼프 카드게임 추천ign shocks. Second, thehistorical decomposition analysis demonstrates that the cyclical fluctuations ofunemployment in Ko트럼프 카드게임 추천a a트럼프 카드게임 추천 explained by key domestic shocks, such as domestic productivityshocks and p트럼프 카드게임 추천fe트럼프 카드게임 추천nce shocks. A 트럼프 카드게임 추천latively small contribution of fo트럼프 카드게임 추천ign shocks to agg트럼프 카드게임 추천gatelabor market variables is partly caused by the sectoral shift of employment rather thanextensive changes in agg트럼프 카드게임 추천gate employment and labor force.