The UK Productivity Puzzle

15 Pages Posted: 10 Jul 2014

See all articles by Alina Barnett

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 - Structural Economic Analysis Division

Date Written: June 16, 2014

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

Barnett, Alina and Batten, Sandra and Chiu, Adrian and Franklin, Jeremy and Sebastia-Barriel, Maria, The UK Productivity Puzzle (June 16, 2014). Bank of England Quarterly Bulletin 2014 Q2, Available at SSRN: https://ssrn.com/abstract=2464034

Alina Barnett (Contact Author)

Bank of England ( email )

Threadneedle Street
London, EC2R 8AH
United Kingdom

Sandra Batten

Bank of England ( email )

Threadneedle Street
London, EC2R 8AH
United Kingdom

Adrian Chiu

Bank of England ( email )

Threadneedle Street
London, EC2R 8AH
United Kingdom

Jeremy Franklin

Bank of England ( email )

Threadneedle Street
London, EC2R 8AH
United Kingdom

Maria Sebastia-Barriel

Bank of England - Structural Economic Analysis Division

Threadneedle Street
London, EC2R 8AH
United Kingdom

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