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The UK productivity puzzle

Author

Listed:
  • Alina Barnett

    (Bank of England)

  • Sandra Batten

    (Bank of England)

  • Adrian Chiu

    (Bank of England)

  • Jeremy Franklin

    (Bank of England)

  • Maria Sebastia-Barriel

    (Bank of England)

Abstract

Labour productivity growth in the United Kingdom has been particularly weak since the start of the crisis. The recent strength in hiring and modest pickup in productivity growth suggest that spare capacity within firms is unlikely to explain much of the current weakness. Factors related to the nature of the financial crisis are likely to be having a persistent impact on the level of productivity — but there remains considerable uncertainty around any interpretation of the puzzle.

Suggested Citation

  • Alina Barnett & Sandra Batten & Adrian Chiu & Jeremy Franklin & Maria Sebastia-Barriel, 2014. "The UK productivity puzzle," Bank of England Quarterly Bulletin, Bank of England, vol. 54(2), pages 114-128.
    • Handle: RePEc:boe:qbullt:0136
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    References listed on IDEAS

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