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Making do with less: working harder during recessions

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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Identification Number: 10.2139/ssrn.2306810

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
Sets: Departments > Management
Research centres and groups > Managerial Economics and Strategy Group
Date Deposited: 19 Aug 2014 08:49
Last Modified: 01 Jul 2020 23:06
URI: http://eprints.lse.ac.uk/id/eprint/59066

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