Wage Gaps Large and Small The law of one wage does not strictly hold, nor should it be expected to hold, in contemporary labor markets. The law of one wage, however, provides a surprisingly good first approximation of the structure of U.S. wages. This generalization is drawn from research on a diverse set of topics: the Mincerian wage equation and earnings imputation, union wage differentials, ...

Wage Gaps Large and Small The law of one wage does not strictly hold, nor should it be expected to hold, in contemporary labor markets. The law of one wage, however, provides a surprisingly good first approximation of the structure of U.S. wages. This generalization is drawn from research on a diverse set of topics: the Mincerian wage equation and earnings imputation, union wage differentials, ...

This paper investigates the effects of employment protection legislation on the rates of worker flows, job reallocation, and churning flows by examining the case of Taiwan. Our study’s empirical identification takes advantage of the natural experiment created by Taiwan’s enactment of Labor Standards Law, which substantially increases the costs of firing an employee, in 1984 and the subsequent m...