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Markus Knell
''The Work-and-Spend Cycle in a Globalized World''
( 2009, Vol. 29 No.1 )
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.
JEL: J2 - Demand and Supply of Labor: General
H2 - Taxation, Subsidies, and Revenue: General
Manuscript Received : Dec 11 2008 Manuscript Accepted : Mar 31 2009

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