Lazear, Edward P., Shaw, Kathryn L. and Stanton, Christopher (2014) Making do with less: working harder during recessions. Stanford University Graduate School of Business Research Paper (14-16). Social Sciences Research Network, Rochester, NY, USA.
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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://papers.ssrn.com/sol3/JELJOUR_Results.cfm?fo... |
| Additional Information: | © 2014 The Authors, Social Science Electronic Publishing |
| Divisions: | Management |
| Subjects: | H Social Sciences > HC Economic History and Conditions H Social Sciences > HD Industries. Land use. Labor H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management |
| Date Deposited: | 19 Aug 2014 08:49 |
| Last Modified: | 11 Dec 2024 19:14 |
| URI: | http://eprints.lse.ac.uk/id/eprint/59066 |
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