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- Title
Is the behavior of hours worked consistent with implicit contract theory?
- Authors
Beaudry, Paul; DiNardo, John
- Abstract
This paper examines the determinants of hours worked when employment relationships are influenced by risk-sharing considerations The environment considered is an extension of the standard symmetric-information risk-sharing model that allows for the possibility of enforcement problems on the part of both the employer and the employee We show that this class of risk-sharing models unambiguously predicts hours to be influenced by wages only through an income effect. Using data from the PSID, we find evidence in favor of this extended version of the risk-sharing model
- Subjects
CONTRACTS for work &; labor; WORKING hours; WAGES; WAGES &; labor productivity; INCOME; LEGAL compliance; CONTRACTS; INDUSTRIAL research
- Publication
Quarterly Journal of Economics, 1995, Vol 110, Issue 3, p743
- ISSN
0033-5533
- Publication type
Article
- DOI
10.2307/2946698