Econometric Analysis of Internal Wage Structure, Comparison between Japan and Korea

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The purpose of this research is to attempt econometric analysis of internal wage structure and also to make comparative analysis of intra-firm labor mobility between occupations, on the basis of micro-data which are available for Japan and Korea. Major findings are as follows;1. Internal wage structure can better be explained by age factor than by human capital factors such as external and internal experiences. This could be interpreted as indicating that living cost compensation by age should be taken into account in explaining Japanese and Korean wage structure.2. Contrary, to the Japanese experience, age-determined wage structure suggests highly mobile labor markets. Therefore, for the explanation of less mobile Japanese labor market's, we have to assume the existence of any institutional barriers such as promotion rule favorable to Kogai employees (virgin workers without work experience at other firms).3. Comparison between Japan, Korea, and the United States reveals that there is no empirical evidence to support the widely accepted view that intra-firm labor market is more mobile in Japan than in other countries.