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The strange case of the disappearing productive capacity in the UK

Wren-Lewis, Simon (2012) The strange case of the disappearing productive capacity in the UK. British Politics and Policy at LSE (28 Mar 2012) Blog Entry.

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Abstract

Recent data shows that the recession will have led to a 10 per cent permanent loss of UK output in a few years time. Simon Wren-Lewis investigates this puzzle and discusses some of the potential explanations; including, the possibility that hysteresis effects [i.e. the possibility that high unemployment increases the rate of unemployment below which inflation begins to accelerate] may have operated more quickly than anyone thought, the survey data is simply wrong, and that underlying labour productivity has fallen.

Item Type: Website (Blog Entry)
Official URL: http://blogs.lse.ac.uk/politicsandpolicy/
Additional Information: © 2012 The Author
Library of Congress subject classification: H Social Sciences > H Social Sciences (General)
H Social Sciences > HC Economic History and Conditions
Sets: Collections > British Politics and Policy at LSE
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Date Deposited: 23 May 2012 11:29
URL: http://eprints.lse.ac.uk/43913/

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