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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). Website.

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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: Online resource (Website)
Official URL: http://blogs.lse.ac.uk/politicsandpolicy/
Additional Information: © 2012 The Author
Divisions: LSE
Subjects: H Social Sciences > H Social Sciences (General)
H Social Sciences > HC Economic History and Conditions
Date Deposited: 23 May 2012 11:29
Last Modified: 15 Sep 2023 18:27
URI: http://eprints.lse.ac.uk/id/eprint/43913

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