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Title:Wages, Hours and Human Capital over the Life Cycle PDF Logo
Authors:Hart, Robert A.
Ma, Yue
Issue Date:2000
Series/Report no.:IZA Discussion paper series 139
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. The model is tested with the British Household Panel Survey (1991-1997) and with the British Labour Force Survey (1993/4).
Subjects:Lifetime wage-hours contracts
asymmetric information
estimated wage- and hourtenure profiles
JEL:J33
J41
Document Type:Working Paper
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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