The Long Run and Real Effects of the Working Hours Restriction: Evidence From France

Paul Middleditch

Centre for Growth and Business Cycle Research Discussion Paper Series from Economics, The University of Manchester

Abstract: This paper uses a theoretical and empirical approach to examine the long run effects of working hours restrictions on the natural rate of unemployment. We estimate a French NAIRU using the Kalman filter applied to a Phillips curve model with French quarterly data between 1987 and 2009. The resulting profile of the NAIRU is then analysed around the introduction of these restrictions and suggests a fall in the NAIRU greater than that reflected in the actual unemployment series alone. The Bai-Perron multiple break point test, adds further evidence of real effects from this policy by predicting regime change around the announcement and implementation of this policy.

Pages: 16 pages
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:man:cgbcrp:202

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