%0 Report
        %A Hart, Robert A.
%A Ma, Yue
        %T Wages, Hours and Human Capital over the Live Cycle
        %D 2000
        %8 2000 Mar
        %I Institute of Labor Economics (IZA)
        %C Bonn
        %7 IZA Discussion Paper
        %N 139
        %U https://www.iza.org/publications/dp139
        %X 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).
        %K Lifetime wage-hours contracts
%K estimated wage- and hour-tenure profiles
%K asymmetric information