Wages, Hours and Human Capital Over the Life Cycle

Robert Hart and Yue Ma

Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), 2008, vol. 228, issue 5-6, 446-464

Abstract: We investigate wage-hours contracts within a four-period rent sharing model that incorporates asymmetric information. Distinctions are made among (a) an investment period, (b) a period in which the parties may separate (quits or layoffs) or continue rent accumulation and sharing, (c) a post investment period and, (d) retirement. We establish that increases in both wage rates and hours of work in the post-investment period serve to minimise sub-optimal separations and, moreover that both wage and hours schedules are concave. Testing is based on 13 waves of British Household Panel Survey from 1991 to 2003.

Keywords: Wage-hours contracts; asymmetric information; four period model (search for similar items in EconPapers)
Date: 2008
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Citations: View citations in EconPapers (2)

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Working Paper: Wages, Hours and Human Capital over the Live Cycle (2000)
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Persistent link: https://EconPapers.repec.org/RePEc:jns:jbstat:v:228:y:2008:i:5-6:p:446-464

DOI: 10.1515/jbnst-2008-5-604

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