Diminishing Returns at Work: The Consequences of Long Working HoursOxford University Press, 17. 5. 2018. - 256 страница The relationship between the number of hours worked and productivity has long fascinated economists and management. It is a central component of the production function that translates inputs to outputs. While increasing the number of hours someone works may increase output, this incisive book demonstrates that there are diminishing returns to long working hours. John H. Pencavel provides an overview of how the length of working hours evolved from the 19th century to today and how the number of working hours affects work performance and other outcomes, including health, well-being, and wages. Diminishing Returns at Work provides a brief history of working hours both in the United States and Britain, including the influence of trade unions pushing for shorter hours of work, the tension with employers who resisted reducing hours, and the influence of legislation and custom. Pencavel discusses various conceptual frameworks for specifying production functions that measure the relationship between inputs and outputs and develops an alternative approach to estimate actual relationships through a reevaluation of classic studies, including the productivity of munitions workers in Britain during the First and Second World Wars and plywood mills in Washington during the 1980s among others. The declining effectiveness of long hours is manifested not only in marketable output but also in a rising probability of ill-health and accidents, and evidence of this has been found both for blue-collar workers and for white-collar workers. In short, shorter hours of work might benefit both firms and workers. |
Садржај
A Brief History of Working Hours | |
Conceptual Framework | iii |
Estimates of Production Functions | xiv |
Further Implications of the Augmented Production Functions | 34 |
Hours of Work Health and WellBeing | 37 |
The Association Between Working Hours and Hourly Earnings | 37 |
Concluding Notes | 37 |
DATA APPENDICES | 52 |
63 | |
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Diminishing Returns at Work: The Consequences of Long Working Hours John H. Pencavel Ограничен приказ - 2018 |
Diminishing Returns at Work: The Consequences of Long Working Hours John H. Pencavel Ограничен приказ - 2018 |
Чести термини и фразе
124 Weekly Observations annual hours association average product changes in hours co-op mills Cobb and Douglas coefficient demand for hours denotes Descriptive statistics differences diminishing returns Economic economists effective hours effort per hour elasticity of output employers employment equation CD-1 estimates of equation factories figure firm’s Gompertz group of workers hourly earnings hourly wages hours and output hours increase hours per worker industry input Labor Economics law of diminishing legislation Lewis’s logarithm long hours longer hours marginal product mill-year observations Ministry of Munitions Munition Workers Committee negative nominal hours nonunion number of workers output implied output with respect output–hours relation overtime Pencavel plant plywood product of hours production function reductions in hours respect to hours returns to hours Richard Cadbury scheduled screw thread shorter hours standard errors Statistics Sunday trade unions unionized mill unity week ending weekly hours weekly output worker co-ops workplace