Wages, Hours and Human Capital Over the Life Cycle
AbstractWe investigate wage-hours contracts within a four-period rent sharing model that incorporates asymmetric information. Distinctions aremade among (a) an investment period, (b) a period in which the partiesmay 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.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Justus-Liebig University Giessen, Department of Statistics and Economics in its journal Journal of Economics and Statistics.
Volume (Year): 228 (2008)
Issue (Month): 5+6 (December)
Contact details of provider:
Postal: Licher Straße 74, 35394 Gießen
Phone: +49 (0)641 99 22 001
Fax: +49 (0)641 99 22 009
Web page: http://wiwi.uni-giessen.de/home/oekonometrie/Jahrbuecher/
More information through EDIRC
Wage-hours contracts; asymmetric information; four period model;
Other versions of this item:
- Hart, Robert A. & Ma, Yue, 2000. "Wages, Hours and Human Capital over the Live Cycle," IZA Discussion Papers 139, Institute for the Study of Labor (IZA).
- J41 - Labor and Demographic Economics - - Particular Labor Markets - - - Labor Contracts
- J33 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Compensation Packages; Payment Methods
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Gustman, Alan L & Steinmeier, Thomas L, 1986.
"A Structural Retirement Model,"
Econometric Society, vol. 54(3), pages 555-84, May.
- Trejo, Stephen J, 1993. "Overtime Pay, Overtime Hours, and Labor Unions," Journal of Labor Economics, University of Chicago Press, vol. 11(2), pages 253-78, April.
- Heckman, James, 2013.
"Sample selection bias as a specification error,"
Publishing House "SINERGIA PRESS", vol. 31(3), pages 129-137.
- Lorne Carmichael, 1981.
"Firm-Specific Human Capital and Promotion Ladders,"
452, Queen's University, Department of Economics.
- Hart, Robert A. & Ma, Yue, 2000. "Why Do Firms Pay an Overtime Premium?," IZA Discussion Papers 163, Institute for the Study of Labor (IZA).
- Robert A Hart & Robin J Ruffell, 1992.
"The Cost of Overtime Hours in British Production Industries,"
Working Papers Series
92/1, University of Stirling, Division of Economics.
- Hart, Robert A & Ruffell, Robin J, 1993. "The Cost of Overtime Hours in British Production Industries," Economica, London School of Economics and Political Science, vol. 60(238), pages 183-201, May.
- Johnson, Richard W, 1996. "The Impact of Human Capital Investments on Pension Benefits," Journal of Labor Economics, University of Chicago Press, vol. 14(3), pages 520-54, July.
- Beaudry, Paul & DiNardo, John, 1995. "Is the Behavior of Hours Worked Consistent with Implicit Contract Theory?," The Quarterly Journal of Economics, MIT Press, vol. 110(3), pages 743-68, August.
- Malcomson, James M., 1999.
"Individual employment contracts,"
Handbook of Labor Economics,
in: O. Ashenfelter & D. Card (ed.), Handbook of Labor Economics, edition 1, volume 3, chapter 35, pages 2291-2372
- Malcomson, J., 1998. "Individual employment contracts," Discussion Paper Series In Economics And Econometrics 9804, Economics Division, School of Social Sciences, University of Southampton.
- Magali Jaoul-Grammare, 2011. "L’évolution des inégalités dans l’enseignement supérieur universitaire français. L’influence des réformes institutionnelles et des ruptures économiques," Working Papers 11-06, Association Française de Cliométrie (AFC).
- Bell, David N.F. & Hart, Robert A., 2010. "Retire Later or Work Harder?," IZA Discussion Papers 4720, Institute for the Study of Labor (IZA).
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Peter Winker).
If references are entirely missing, you can add them using this form.