@TechReport{iza:izadps:dp139,
            	author={Hart, Robert A. and Ma, Yue},
            	title={Wages, Hours and Human Capital over the Live Cycle},
            	year={2000},
	month={Mar},
            	institution={Institute of Labor Economics (IZA)},
            	address={Bonn},
            	type={IZA Discussion Paper},
            	number={139},
            	url={https://www.iza.org/index.php/publications/dp139},
	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).},
	keywords={Lifetime wage-hours contracts;estimated wage- and hour-tenure profiles;asymmetric information},
            }