Changes in output, employment and wages during recessions in the United Kingdom
AbstractEmployment has fallen during this recession but by much less than the fall in output. This article examines how the behaviour of the labour market compares with previous recessions. A number of factors, including greater flexibility in real wages, may have helped to mitigate the fall in employment to date. But there is considerable uncertainty about how the labour market will evolve.
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Bibliographic InfoArticle provided by Bank of England in its journal Bank of England Quarterly Bulletin.
Volume (Year): 50 (2010)
Issue (Month): 1 ()
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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Stefano Gnocchi & Evi Pappa, 2009. "Do labor market rigidities matter for business cycles? Yes they do," Working Papers 411, Barcelona Graduate School of Economics.
- Hughes, Abigail & Saleheen, Jumana, 2012. "UK labour productivity since the onset of the crisis — an international and historical perspective," Bank of England Quarterly Bulletin, Bank of England, vol. 52(2), pages 138-146.
- Oulton, Nicholas & Sebastia-Barriel, Maria, 2013.
"Long and short-term effects of the financial crisis on labour productivity, capital and output,"
Bank of England working papers
470, Bank of England.
- Nicholas Oulton & María Sebastiá-Barriel, 2013. "Long and Short-Term Effects of the Financial Crisis on Labour Productivity, Capital and Output," CEP Discussion Papers dp1185, Centre for Economic Performance, LSE.
- Burgess, Stephen & Fernandez-Corugedo, Emilio & Groth, Charlotta & Harrison, Richard & Monti, Francesca & Theodoridis, Konstantinos & Waldron, Matt, 2013. "The Bank of England's forecasting platform: COMPASS, MAPS, EASE and the suite of models," Bank of England working papers 471, Bank of England.
- Nicholas Oulton, 2013. "Medium and Long Run Prospects for UK Growth in the Aftermath of the Financial Crisis," CEP Occasional Papers 37, Centre for Economic Performance, LSE.
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