Resource title

Wages, Hours and Human Capital over the Life Cycle

Resource image

image for OpenScout resource :: Wages, Hours and Human Capital over the Life Cycle

Resource description

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).

Resource author

Robert A. Hart, Yue Ma

Resource publisher

Resource publish date

Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/20979

Resource license

Adapt according to the presented license agreement and reference the original author.