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Policy Transferability and Hysteresis: Daily and Weekly Hours in the BRD and the US

  • Daniel S. Hamermesh

I develop a model with the path of labor-market outcomes exhibiting hysteresis depending on prior labor-market policy. The results suggest that attempts to transfer policies across economies lead to surprising results even if current economic outcomes in the countries appear similar. Examples of minimum wages, optimal income maintenance, and training programs are given. The results are applied to a discussion of overtime laws and differences in days worked and weekly hours in the U.S. and Germany.

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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 4773.

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Date of creation: Jun 1994
Date of revision:
Publication status: published as Institutions and Labor Market Performance: Corporate Views on the USand German Economies, R. Butler et. al., eds. London: Routledge. (1995)
Handle: RePEc:nbr:nberwo:4773
Note: LS
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  1. Mincer, Jacob & Polachek, Solomon, 1974. "Family Investment in Human Capital: Earnings of Women," Journal of Political Economy, University of Chicago Press, vol. 82(2), pages S76-S108, Part II, .
  2. Olivier J. Blanchard & Lawrence H. Summers, 1986. "Hysteresis and the European Unemployment Problem," Working papers 427, Massachusetts Institute of Technology (MIT), Department of Economics.
  3. Robert H. Meyer & David A. Wise, 1982. "The Effects of the Minimum Wage on the Employment and Earnings of Youth," NBER Working Papers 0849, National Bureau of Economic Research, Inc.
  4. Pack, Howard, 1988. "Industrialization and trade," Handbook of Development Economics, in: Hollis Chenery & T.N. Srinivasan (ed.), Handbook of Development Economics, edition 1, volume 1, chapter 9, pages 333-380 Elsevier.
  5. Stigler, George J & Becker, Gary S, 1977. "De Gustibus Non Est Disputandum," American Economic Review, American Economic Association, vol. 67(2), pages 76-90, March.
  6. Fair, Ray C, 1971. "The Optimal Distribution of Income," The Quarterly Journal of Economics, MIT Press, vol. 85(4), pages 551-79, November.
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