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Longitudinal Analysis of Inter-Industry Wage Differentials in the Korean Labor Market
Longitudinal Analysis of Inter-Industry Wage Differentials in the Korean Labor Market
  • SUMMARY

    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. - Table of Contents- Ⅰ. INTRODUCTION Ⅱ. EMPIRICAL METHODOLOGY Ⅲ. DATA Ⅳ. MAIN RESULTS Ⅴ. DISCUSSION REFERENCES