Policy Transferability and Hysteresis: Daily and Weekly Hours in the BRD and the US / Daniel S. Hamermesh.

By:

Hamermesh, Daniel S

Contributor(s):

National Bureau of Economic Research

Material type: Text

TextSeries: Working Paper Series (National Bureau of Economic Research) ; no. w4773.Publication details: Cambridge, Mass. National Bureau of Economic Research 1994.Description: 1 online resource: illustrations (black and white)Subject(s):

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Abstract: 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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Item type	Home library	Collection	Call number	Status	Date due	Barcode	Item holds
Working Paper	Biblioteca Digital	Colección NBER	nber w4773 (Browse shelf(Opens below))	Not For Loan

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Previous	nber w4770 Estimating a Wage Curve for Britain 1973-1990 /	nber w4771 Relative Wage Movements and the Distribution of Consumption /	nber w4772 Trade and Industrial Policy Reform in Latin America /	nber w4773 Policy Transferability and Hysteresis: Daily and Weekly Hours in the BRD and the US /	nber w4774 Bubbles in Metropolitan Housing Markets /	nber w4775 Rental Adjustment & Valuation of Real Estate in Overbuilt Markets: Fundamental vs. Reported Office Market Values in Sydney Australia /	nber w4776 Internal versus External Capital Markets /	Next

June 1994.

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.