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) |
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| 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/rights/LSERO.htm |
| URL: | http://eprints.lse.ac.uk/43913/ |
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