Human Capital and Labor Supply: A Synthesis / Alan S. Blinder, Yoram Weiss.

Format:

Book

Author/Creator:

Blinder, Alan S.

Contributor:

National Bureau of Economic Research.

Weiss, Yoram.

Series:

Working Paper Series (National Bureau of Economic Research) no. w0067.

NBER working paper series no. w0067

Language:

English

Subjects (All):

Econometric models.

Econometrics.

Physical Description:

1 online resource: illustrations (black and white);

Other Title:

Human Capital and Labor Supply

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 1975.

Cambridge, Massachusetts : National Bureau of Economic Research, 1975.

Summary:

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.

Notes:

Print version record

1975.