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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- Alberto F. Alesina & Edward L. Glaeser & Bruce Sacerdote, 2006.
"Work and Leisure in the U.S. and Europe: Why So Different?,"
in: NBER Macroeconomics Annual 2005, Volume 20, pages 1-100
National Bureau of Economic Research, Inc.
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- Harald Uhlig & Lars Ljungqvist, 2000. "Tax Policy and Aggregate Demand Management under Catching Up with the Joneses," American Economic Review, American Economic Association, vol. 90(3), pages 356-366, June.
- Hans-Werner Sinn, 2004. "The New Systems Competition," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 5(1), pages 23-38, 02.
- Hans-Werner Sinn, 2001. "The New Systems Competition," CESifo Working Paper Series 623, CESifo Group Munich.
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