In this paper we investigate the positive and normative consequences of child-labor restrictions for economic aggregates and welfare. We argue that even though the laissez-faire equilibrium may be inefficient, there are usually better policies to cure these inefficiencies than the imposition of a child-labor ban. Given this finding, we investigate the potential political-economic reasons behind the emergence and persistence of child-labor legislation. Our investigation is based on a structural dynamic general equilibrium model that provides a coherent and uniform framework for our analysis.
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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number
12665.
Length: Date of creation: Nov 2006 Date of revision: Handle: RePEc:nbr:nberwo:12665
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Find related papers by JEL classification: E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook H80 - Public Economics - - Miscellaneous Issues - - - General I28 - Health, Education, and Welfare - - Education - - - Government Policy I38 - Health, Education, and Welfare - - Welfare and Poverty - - - Government Programs; Provision and Effects of Welfare Programs J40 - Labor and Demographic Economics - - Particular Labor Markets - - - General
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