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http://hdl.handle.net/1893/1927| Appears in Collections: | Economics Journal Articles |
| Peer Review Status: | Refereed |
| Title: | Wages, Hours and Human Capital Over the Life Cycle |
| Author(s): | Hart, Robert A Ma, Yue |
| Contact Email: | r.a.hart@stir.ac.uk |
| Keywords: | Wage-hours Contracts Asymmetric Information Four Period Model |
| Issue Date: | 2008 |
| Citation: | Hart RA & Ma Y (2008) Wages, Hours and Human Capital Over the Life Cycle, Jahrbucher fur Nationalokonomie und Statistik, 228 (5-6), pp. 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. |
| URL: | http://www.luciusverlag.com/zeitschriften/jahrbuecher/jahrbuecher_inhalt.htm |
| Rights: | Published in Jahrbücher für Nationalökonomie und Statistik by Lucius & Lucius Verlagsgesellschaft. |
Files in This Item:
| File | Description | Size | Format | |
|---|---|---|---|---|
| LIFErevised4.pdf | 131.28 kB | Adobe PDF | View/Open |
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