TY  - RPRT
        AU  - Hart, Robert A.
AU  - Ma, Yue
        TI  - Wages, Hours and Human Capital over the Live Cycle
        PY  - 2000/Mar/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 139
        UR  - https://www.iza.org/index.php/publications/dp139
        AB  - 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).
        KW  - Lifetime wage-hours contracts
KW  - estimated wage- and hour-tenure profiles
KW  - asymmetric information
        ER  -