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The United Kingdom productivity paradox: Myth or reality

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  • Howard-Jones, Robert Peter
  • Hassani, Hossein

Abstract

The stagnation in full time employment and increasing numbers of part time and self-employed workers pose a significant challenge to the UK economy. However, the key to the paradox might actually lie in a long term evaluation of all these factors of production. Whilst economists, politicians and the media puzzle over the UK paradox of rising employment and falling output, this paper attempts to evaluate the relationship between output hours, productivity hours and employment together with the continuing rise of the UK population, an increasing dependency on services and a tendency to increasing unemployment.

Suggested Citation

  • Howard-Jones, Robert Peter & Hassani, Hossein, 2015. "The United Kingdom productivity paradox: Myth or reality," The Journal of Economic Asymmetries, Elsevier, vol. 12(1), pages 52-60.
    • Handle: RePEc:eee:joecas:v:12:y:2015:i:1:p:52-60
    DOI: 10.1016/j.jeca.2015.01.001
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    References listed on IDEAS

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    1. Carmen M. Reinhart & Kenneth S. Rogoff, 2009. "The Aftermath of Financial Crises," American Economic Review, American Economic Association, vol. 99(2), pages 466-472, May.
    2. 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.
    3. Iana Liadze & Ray Barrell & Professor E. Philip Davis, 2010. "The Effects of Banking Crises on Potential Output in OECD Countries," National Institute of Economic and Social Research (NIESR) Discussion Papers 358, National Institute of Economic and Social Research.
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