financial frictions

Publication date: 2 Aug 2017 | Publication type: National Institute Economic Review | Theme: Macroeconomics | Authors: Chadha, J S, Kara, A | External authors: Labonne, P | JEL classification: E01, E32, E44 | Journal: National Institute Economic Review Issue 241 | Publisher: Sage Publications, London
The financial crisis has led to a change in the mix of capital and labour employed in the UK and a sharp decline in total factor productivity. This has meant that labour productivity has not recovered to any great degree since the financial crisis. We explore the role of overall and sectoral...