The Week [electronic resource] / Maya Eden.
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TextPublication details: Washington, D.C. : The World Bank, 2016Description: 1 online resource (52 p.)Subject(s): Calendar Reform | E-Business | Economic Theory and Research | Fatigue | Labor Markets | Labor Policies | Learning By Doing | Leisure | Macroeconomics and Economic Growth | Memory | Private Sector Development | Productivity | Religious Institutions | Social Protections and Labor | Week | Work and Working ConditionsAdditional physical formats: Eden, Maya.: The Week.Online resources: Click here to access online Abstract: Is a five-day workweek followed by a two-day weekend a socially optimal schedule? This paper presents a model in which labor productivity and the marginal utility of leisure evolve endogenously over the workweek. Labor productivity is shaped by two forces: restfulness, which decreases over the workweek, and memory, which improves over the workweek. The structural parameters of the model are disciplined using daily variation in electricity usage per worker. The results suggest that increases in the ratio of vacation to workdays lead to output losses. A calibration of the model suggests that a 2-3 day workweek followed by a 1 day weekend can increase welfare.
Is a five-day workweek followed by a two-day weekend a socially optimal schedule? This paper presents a model in which labor productivity and the marginal utility of leisure evolve endogenously over the workweek. Labor productivity is shaped by two forces: restfulness, which decreases over the workweek, and memory, which improves over the workweek. The structural parameters of the model are disciplined using daily variation in electricity usage per worker. The results suggest that increases in the ratio of vacation to workdays lead to output losses. A calibration of the model suggests that a 2-3 day workweek followed by a 1 day weekend can increase welfare.
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