Wages, hours and human capital over the life cycle

Robert A. Hart; Yue Ma

doi:10.1515/9783110511680-004

Wages, hours and human capital over the life cycle

Robert A. Hart, Yue Ma

Research output: Chapters, Conference Papers, Creative and Literary Works › RGC 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 language	English
Title of host publication	Labormetrics
Editors	Lutz Bellmann, Wolfgang Franz, Knut Gerlach, Reinhard Hujer, Wolfgang Meyer, Joachim Wagner
Place of Publication	Stuttgart
Publisher	Lucius und Lucius Verlagsgesellschaft mbH
Pages	446-464
ISBN (Electronic)	9783110511680
ISBN (Print)	9783110499452
DOIs	https://doi.org/10.1515/9783110511680-004
Publication status	Published - Dec 2008
Externally published	Yes

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

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

Access Output

10.1515/9783110511680-004

Other Access Options

Check CityUHK Library

Permanent Link

Right click to copy link

Cite this

@inbook{d61a342ddc4e4005ad657abb16d42f1a,

title = "Wages, hours and human capital over the life cycle",

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. {\textcopyright} Lucius & Lucius Verlagsgesellschaft mbH Stuttgart 2008. All rights reserved.",

author = "Hart, {Robert A.} and Yue Ma",

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",

year = "2008",

month = dec,

doi = "10.1515/9783110511680-004",

language = "English",

isbn = "9783110499452",

pages = "446--464",

editor = "Lutz Bellmann and Wolfgang Franz and Knut Gerlach and Reinhard Hujer and Wolfgang Meyer and Joachim Wagner",

booktitle = "Labormetrics",

publisher = "Lucius und Lucius Verlagsgesellschaft mbH",

address = "Germany",

}

Wages, hours and human capital over the life cycle. / Hart, Robert A.; Ma, Yue.
Labormetrics. ed. / Lutz Bellmann; Wolfgang Franz; Knut Gerlach; Reinhard Hujer; Wolfgang Meyer; Joachim Wagner. Stuttgart: Lucius und Lucius Verlagsgesellschaft mbH, 2008. p. 446-464.

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

TY - CHAP

T1 - Wages, hours and human capital over the life cycle

AU - Hart, Robert A.

AU - Ma, Yue

N1 - 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

PY - 2008/12

Y1 - 2008/12

N2 - 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.

AB - 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.

UR - http://www.scopus.com/inward/record.url?scp=85139883997&partnerID=8YFLogxK

UR - https://www.scopus.com/record/pubmetrics.uri?eid=2-s2.0-85139883997&origin=recordpage

U2 - 10.1515/9783110511680-004

DO - 10.1515/9783110511680-004

M3 - RGC 12 - Chapter in an edited book (Author)

SN - 9783110499452

SP - 446

EP - 464

BT - Labormetrics

A2 - Bellmann, Lutz

A2 - Franz, Wolfgang

A2 - Gerlach, Knut

A2 - Hujer, Reinhard

A2 - Meyer, Wolfgang

A2 - Wagner, Joachim

PB - Lucius und Lucius Verlagsgesellschaft mbH

CY - Stuttgart

ER -

Wages, hours and human capital over the life cycle

Abstract

Bibliographical note

UN SDGs

Access Output

Other Access Options

Permanent Link

Other Files and Links

Fingerprint

Wages, hours and human capital over the life cycle

Cite this