Intertemporal Labor Supply and Long Term Employment Contracts
Intertemporal Labor Supply and Long Term Employment Contracts
复制标题
跨期劳动力供应和长期雇佣合同
DOI：
--
复制
发表时间：
1986
期刊：
影响因子：
--
通讯作者：
David Card
中科院分区：
文献类型：
--
作者：
J. Abowd;David Card
在本文中，我们比较了对称信息契约模型和动态劳动力供给模型对个人收入和工作时间随时间变化的影响。这些模型之间的关键区别在于收入是否代表最优消费或当前劳动力服务的支付。我们根据收入和工作时间相对于生产力变化的相对变化，对劳动力供应和承包模型进行了简单的测试。如果收入代表消费，那么生产力的变化对收入的影响比工作时间的变化要小。劳动力供给模型的情况正好相反。我们将测试应用于收入动态小组研究和全国老年男性纵向调查中男性户主的纵向数据，重点关注在调查期间没有更换雇主的个人。这两种模型都不能很好地拟合数据。然而，在这两项调查中，生产率变化对收入变化的贡献大于对工作时间变化的贡献。尽管估计的劳动力供应弹性表明工作时间的变化是在固定工资率下发生的，但这些数据与劳动力供应的解释更加一致。
In this paper we compare the implications of a symmetric information contracting model and a dynamic labor supply model for changes in individual earnings and hours over time. The critical distinction between these models is whether earnings represent optimal consumption or payment for current labor services. We develop a simple test between labor supply and contracting models based on the relative variability of earnings and hours with respect to changes in productivity. If earnings represent consumption then changes in productivity generate smaller changes in earnings than hours. The opposite is true in the labor supply model. We apply our test to longitudinal data on male household heads fran the Panel Study of Income Dynamics and the National Longitudinal Survey of Older Men, focusing on individuals who do not change employers during the survey period. Neither model fits the data well. In both surveys, however, the contrihition of changes in productivity to changes in earnings is greater than the contribution to changes in hours. The data are more consistent with a labor supply interpretation, although the estimated labor supply elasticities suggest that changes in hours occur at fixed wage rates.