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The Work-and-Spend Cycle in a Globalized World

Author

Listed:
  • Markus Knell

    (Oesterreichsiche Nationalbank)

Abstract

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.

Suggested Citation

  • Markus Knell, 2009. "The Work-and-Spend Cycle in a Globalized World," Economics Bulletin, AccessEcon, vol. 29(1), pages 491-498.
    • Handle: RePEc:ebl:ecbull:eb-08j20019
    as

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    File URL: http://www.accessecon.com/Pubs/EB/2009/Volume29/EB-09-V29-I1-P51.pdf
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    References listed on IDEAS

    as
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    6. Alberto Alesina & Edward Glaeser & Bruce Sacerdote, 2005. "Work and Leisure in the U. S. and Europe: Why so Different?," Harvard Institute of Economic Research Working Papers 2068, Harvard - Institute of Economic Research.
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    More about this item

    JEL classification:

    • J2 - Labor and Demographic Economics - - Demand and Supply of Labor
    • H2 - Public Economics - - Taxation, Subsidies, and Revenue

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