Titelaufnahme

Titel
Labor productivity during the Great Depression in UK manufacturing / Robert A. Hart (University of Stirling and IZA) ; IZA Institute of Labor Economics
VerfasserHart, Robert A.
KörperschaftForschungsinstitut zur Zukunft der Arbeit
ErschienenBonn, Germany : IZA Institute of Labor Economics, May 2019
Ausgabe
Elektronische Ressource
Umfang1 Online-Ressource (22 Seiten) : Diagramme
SerieDiscussion paper ; no. 12379
URNurn:nbn:de:hbz:5:2-192463 
Zugänglichkeit
 Das Dokument ist öffentlich zugänglich im Rahmen des deutschen Urheberrechts.
Volltexte
Labor productivity during the Great Depression in UK manufacturing [0.4 mb]
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Verfügbarkeit In meiner Bibliothek
Zusammenfassung (Englisch)

This paper provides estimates of labor productivity for one-third of UK manufacturing during the Great Depression. It covers engineering and allied industries, and metal working industries. A unique data set of actual hours of work is combined with comparable real output and employment statistics. It establishes that output per worker-hour was countercyclical in the 1929-1932 peak-to-trough years of the Depression. This result has also been found for US manufacturing over the same period. Working time is found to play a crucial role the UK productivity response. Countercyclical productivity is discussed in terms of (i) the strong final output and consumer price deflations of 1929 to 1934, (ii) an absence of significant labor hoarding, and (c) diminishing returns to long weekly hours of work.