Hours and Wages
发现每周工时集中在40小时附近，但大量工时来自超50小时者，且平均小时工资在50小时处达到峰值。通过构建非线性收入模型，估计出偏离40小时会带来工资惩罚，导致40小时工作者对冲击反应迟钝，影响劳动供给作为自我保险机制的作用。
Abstract We document two robust features of the cross-sectional distribution of usual weekly hours and hourly wages. First, usual weekly hours are heavily concentrated around 40 hours, while at the same time a substantial share of total hours come from individuals who work more than 50 hours. Second, mean hourly wages are nonmonotonic across the usual hours distribution, with a peak at 50 hours. We develop and estimate a model of labor supply to account for these features. The novel feature of our model is that earnings are nonlinear in hours, with the extent of nonlinearity varying over the hours distribution. Our estimates imply significant wage penalties for people who deviate from 40 hours in either direction, leading to a large mass of people who work 40 hours and are not very responsive to shocks. This has important implications for the role of labor supply as a mechanism for self-insurance in a standard heterogeneous-agent incomplete-markets model and for empirical strategies designed to estimate labor supply parameters.