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Journal Article

Wages, hours and human capital over the life cycle

Authors

Publication date

2008

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.

Published in

Jahrbücher für Nationalökonomie und Statistik

Volume

228 (5-6):446-464

Subjects

Labour Market and Wages And Earnings

Notes

Web of Knowledge alert; No doi given; not held in Res Lib - bibliographic reference only

#512169


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