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Making do with less: working harder during recessions

Lazear, Edward P., Shaw, Kathryn L. and Stanton, Christopher (2013) Making do with less: working harder during recessions. Working Papers series. Department of Management, London School of Economics and Political Science, London, UK.

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Abstract

Why did productivity rise during recent recessions? One possibility is that average worker quality increased. A second is that each incumbent worker produced more. The second effect is termed “making do with less.” Using data from 2006 to 2010 on individual worker productivity from a large firm, these effects can be measured and separated. For this firm, most of the gain in productivity during the recession was a result of increased effort. Additionally, the increase in effort is correlated with the increase in the local unemployment rate, presumably reflecting the costs of losing a job.

Item Type: Monograph (Working Paper)
Official URL: http://www.ssrn.com/en/
Additional Information: © 2014 The Authors
Divisions: Management
Subjects: H Social Sciences > HD Industries. Land use. Labor
Date Deposited: 18 Aug 2014 09:07
Last Modified: 16 Nov 2021 13:03
URI: http://eprints.lse.ac.uk/id/eprint/59036

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