Reducing working hours: a general equilibrium analysis

Terry J Fitzgerald ()

No 9801, Working Paper from Federal Reserve Bank of Cleveland

Abstract: An examination of the effects of restricting the weekly hours of workers in a heterogeneous-agent, general-equilibrium framework. The main findings are that restricting weekly hours increases employment substantially, but may also lead to large declines in wages, productivity, output, and consumption, and can increase the wage disparity between skilled and unskilled workers.

Keywords: Hours of labor; Employment (Economic theory) (search for similar items in EconPapers)
Date: Written 1998
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