The Employment Relationship: Difference between revisions
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====The employment relationship can be basically modeled as followed:==== | ====The employment relationship can be basically modeled as followed:==== | ||
:<big>''y''=''y(he)''+ε </big> | :<big>''y''=''y(he)''+ε </big> | ||
:*Assumptions: | :*Assumptions: | ||
:*#''y''' > 0 | |||
:*#''y'''' < 0 | |||
:*#''h'' = # of hours worked (assuming 1 hour per worker) | :*#''h'' = # of hours worked (assuming 1 hour per worker) | ||
Revision as of 01:32, 22 April 2009
The employment relationship can be basically modeled as followed:
- y=y(he)+ε
- Assumptions:
- y' > 0
- y'' < 0
- h = # of hours worked (assuming 1 hour per worker)
- Assumptions:
