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Wages, Hours and Human Capital over the Live Cycle

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Author Info
Hart, Robert () (University of Stirling and IZA, Bonn)
Ma, Yue (University of Stirling)

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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).

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Publisher Info
Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 139.

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Length: 44 pages
Date of creation: Mar 2000
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Handle: RePEc:iza:izadps:dp139

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Related research
Keywords: Lifetime wage-hours contracts; asymmetric information; estimated wage- and hour-tenure profiles;

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Find related papers by JEL classification:
J41 - Labor and Demographic Economics - - Particular Labor Markets - - - Labor Contracts
J33 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Compensation Packages; Payment Methods

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This page was last updated on 2009-12-14.

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