In a labor market in which firms offer tied hours-wage packages and there is substantial dispersion in the wage offers associated with a particular type of job, the best job available to a worker at a point in time may pay well but require an hours level which is far from the worker's labor...

If hours can be freely varied within jobs, the effect on hours of changes in preferences for those who do change jobs should be similar to the effect on hours for those who do not change jobs. Conversely, if employers restrict hours choices, then changes in preferences should affect hours more...

In this paper we develop and estimate a factor model of the earnings, labor supply, and wages of young men and young women, their parents and their siblings. We estimate the model using data on matched sibling and parent-child pairs from the National Longitudinal Survey of Labor Market...