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武蔵大学論集 「The Journal of Musashi University」 >
2017年度・第65巻 第1号 >

Please use this identifier to cite or link to this item: http://hdl.handle.net/11149/1943

Title: Is the Supply Curve of Working Hours Theoretically Valid?─A critical view based on hedonic wage theory─
Authors: 木下, 富夫
KINOSHITA, Tomio
Keywords: supply curve of working hours
hedonic wage model
bid wage curve
offer wage curve
contract curve
Issue Date: 8-Sep-2017
Publisher: 武蔵大学経済学会
Abstract: This paper argues that the conventional model of working hours has theoretical problems that the hedonic wage model can resolve. The main results are as follows. (1) If the demand curve of working hours is introduced into the system of the conventional model, it becomes overdetermined and incomplete. (2) The conventional model cannot explain market equilibrium in some simple cases, which will mean that it is theoretically incomplete. (3) In the hedonic wage model, the marginal rate of substitution of workers at equilibrium is not equal to the hourly wage rate, and the decreasing effects of income taxon working hours are either smaller or greater than what the conventional model predicts.
Description: 板垣 博教授 記念号
JEL Classifications: J22, J31
URI: http://hdl.handle.net/11149/1943
Appears in Collections:2017年度・第65巻 第1号

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