The Work-and-Spend Cycle in a Globalized World
In this paper we show that globalization might cause an inefficient reduction of working time regulation. The argument rest on the assumption that people care about their relative standing and that national policymakers fail to completely internalize the consumption externality of the increasingly international reference standards.
Volume (Year): 29 (2009)
Issue (Month): 1 ()
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Department of Economics University of Siena
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