productivity growth, productivity decomposition, resource allocation, credit shock, Great Recession, Great Stagnation

Publication date: 31 May 2015 | Publication type: NIESR Discussion Paper | Theme: Trade, Investment & Productivity | Authors: Riley, R | External authors: Young, G | JEL classification: L11, O47, E32 | NIESR discussion paper number: 450
In many larger advanced economies labour productivity growth slowed sharply and remained subdued for years after the credit crisis of 2007/08. Nowhere was this more obvious than in the UK. We examine the dynamics of productivity among British businesses that lie behind this stagnation. The most...