Wages, hours and human capital over the life cycle

Robert A. Hart, Yue Ma

Research output: Chapters, Conference Papers, Creative and Literary WorksRGC 12 - Chapter in an edited book (Author)peer-review

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. © Lucius & Lucius Verlagsgesellschaft mbH Stuttgart 2008. All rights reserved.
Original languageEnglish
Title of host publicationLabormetrics
EditorsLutz Bellmann, Wolfgang Franz, Knut Gerlach, Reinhard Hujer, Wolfgang Meyer, Joachim Wagner
Place of PublicationStuttgart
PublisherLucius und Lucius Verlagsgesellschaft mbH
Pages446-464
ISBN (Electronic)9783110511680
ISBN (Print)9783110499452
DOIs
Publication statusPublished - Dec 2008
Externally publishedYes

Bibliographical note

This has also been published in: Hart, R. A., & Ma, Y. (2008). Wages, hours and human capital over the life cycle. Jahrbucher fur Nationalokonomie und Statistik, 228(5-6), 446-464. https://doi.org/10.1515/jbnst-2008-5-604

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