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

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  • Paul Middleditch

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.

Suggested Citation

  • Paul Middleditch, 2015. "The Long Run and Real Effects of the Working Hours Restriction: Evidence From France," Centre for Growth and Business Cycle Research Discussion Paper Series 202, Economics, The University of Manchester.
    • Handle: RePEc:man:cgbcrp:202
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    File URL: http://hummedia.manchester.ac.uk/schools/soss/cgbcr/discussionpapers/dpcgbcr202.pdf
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