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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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)|
|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|
|Date Deposited:||23 May 2012 11:29|
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