Human Capital and Labor Supply: A Synthesis /
Blinder, Alan S.
Human Capital and Labor Supply: A Synthesis / Alan S. Blinder, Yoram Weiss. - Cambridge, Mass. National Bureau of Economic Research 1975. - 1 online resource: illustrations (black and white); - NBER working paper series no. w0067 . - Working Paper Series (National Bureau of Economic Research) no. w0067. .
1975.
It is by now widely recognized that investment decisions play a major role in the determination of individual age-earnings profiles. The purpose of this paper is to present a simple life-cycle model of investment in human capital in which leisure choices are explicitly incorporated. In so doing, we integrate two previously disparate branches of life-cycle theory: models of labor supply with exogenous wages, and models of human capital formation with exogenous leisure. Of course, to accomplish this, we must posit utility maximization as the individual's goal rather than income maximization.
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Mode of access: World Wide Web.
Human Capital and Labor Supply: A Synthesis / Alan S. Blinder, Yoram Weiss. - Cambridge, Mass. National Bureau of Economic Research 1975. - 1 online resource: illustrations (black and white); - NBER working paper series no. w0067 . - Working Paper Series (National Bureau of Economic Research) no. w0067. .
1975.
It is by now widely recognized that investment decisions play a major role in the determination of individual age-earnings profiles. The purpose of this paper is to present a simple life-cycle model of investment in human capital in which leisure choices are explicitly incorporated. In so doing, we integrate two previously disparate branches of life-cycle theory: models of labor supply with exogenous wages, and models of human capital formation with exogenous leisure. Of course, to accomplish this, we must posit utility maximization as the individual's goal rather than income maximization.
System requirements: Adobe [Acrobat] Reader required for PDF files.
Mode of access: World Wide Web.