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A longitudinal analysis of inter-industry wage differentials in the Korean labor market

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Frame of Image 356-626-6
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CONTENTS
Ⅰ. INTRODUCTION ················································· 1 Ⅱ. EMPIRICAL METHODOLOGY ································ 4 Ⅲ. DATA ································································· 7 Ⅳ. MAIN RESULTS ·················································· 10 Ⅴ. DISCUSSION ······················································ 18 REFERENCES························································· 20
I. Introduction
1
Ⅰ. INTRODUCTION
◈ Abstract
It is well known that wage differences across industries are observed in the United States and other developed countries, even after controlling human capital and demographic factors. This paper studies the existence of the interindustry wage differentials in the Korean labor market using the panel data set taken from the Korean Labor and Income Panel Study (KLIPS). After controlling the unmeasured worker characteristics, we cannot find any significant wage differentials for any industry. Given the results, industry affiliations themselves do not seem to play an important role in determining the wages of Korean workers. An examination of worker mobility patterns across industries is not consistent with the predictions of the efficiency wage hypothesis. JEL classification: J31 Keywords: industry wage differential, fixed effects estimates.
I would like to thank Zooyob Anne, Joonmo Cho, Hyung-Jae Choi, Dae-Il Kim, Peter Kuhn, In-Jae Lee, Su-Kyung Whang and participants in the labor lunch seminar at


Full Text
Title A longitudinal analysis of inter-industry wage differentials in the Korean labor market
Similar Titles
Material Type Reports
Author(English)

Cho, Donghun

Publisher

Korea Labor Institute

Date 2007
Pages 24
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Social Development < Employment
Holding Korea Labor Institute

Abstract

It is well known that wage differences across industries are observed in the United States and other developed countries, even after controlling human capital and demographic factors. This paper studies the existence of the inter-industry wage differentials in the Korean labor market using the panel data set taken from the Korean Labor and Income Panel Study (KLIPS). After controlling the unmeasured worker characteristics, we cannot find any significant wage differentials for any industry. Given the results, industry affiliations themselves do not seem to play an important role in determining the wages of Korean workers. An examination of worker mobility patterns across industries is not consistent with the predictions of the efficiency wage hypothesis.