• Corpus ID: 154620367

Is the British economy supply constrained II? A renewed critique of productivity pessimism

  title={Is the British economy supply constrained II? A renewed critique of productivity pessimism},
  author={Bill Martin and Robert Eric Rowthorn},
A Response to Bill Martin and Robert Rowthorn
This note responds to a critique of our recent paper, “Can Intangible Investment Explain the UK Productivity Puzzle?”. In that critique Martin and Rowthorn (MR) present a re-working of data on labour
Allowing for unemployment in productivity measurement
A complementary index which adjusts labour productivity for levels of unemployment—the social labour productivity index (SLPI)—is proposed and it is recommended that the Labour productivity index itself should be standardised.
Demand-Side Stagnation Theories
This chapter is concerned with demand-side theories of secular stagnation, providing a thorough analysis of the stagnation hypotheses of various economists emphasizing secular stagnation as a
Labour Productivity During the Great Depression and the Great Recession in UK Engineering and Metal Manufacture
  • R. Hart
  • Economics
    SSRN Electronic Journal
  • 2020
IZA DP No. 13528 JULY 2020 Labour Productivity during the Great Depression and the Great Recession in UK Engineering and Metal Manufacture This paper compares labour productivity during the Great
There is renewed interest in levelling up the regions of the UK. The combination of social and political discontent, and the sluggishness of key UK macroeconomic indicators like productivity growth,
Supply-Side Stagnation Theories
In contrast to the previous chapter, this chapter focuses on theories of supply-side stagnation. It includes the hypotheses of Adam Smith, Thomas R. Malthus, John S. Mill, David Ricardo, and Karl
The UK's Great Demand and Supply Recession
We revisit UK’s poor productivity performance since the Great Recession by means of both a suitable theoretical framework and firm-level prices and quantities data for detailed products allowing us


Deflation improvements in the UK National Accounts
SummaryAs part of wider developments to improve the quality of the UK National Accounts, ONS will introduce two key improvements to the methods by which volume estimates of gross domestic product
Estimating the UK's historical output gap
An important consideration for the assessment of the economic outlook is the size of the output gap the difference between the current level of output and the potential level consistent with stable
Labour Supply as a Buffer: Evidence from UK Households
This paper examines labour supply adjustment – both hours worked and participation decisions. The analysis focuses on the response of each to financial shocks, employing data from the British
Index of Services – Industry Reviews”, March, ONS
  • 2012
A Few Remarks on Current Monetary Policy in a Rebalancing Economy”, speech given at The Joint 1900/City Club Lunch
  • 2011
Housing Equity Withdrawal Since the Financial Crisis
The amount of housing equity withdrawal (HEW) has swung from being significantly positive before the financial crisis and recession, to negative over the past few years. The net effect of a chain of
Monetary Policy in a Weak Economy”, speech given at the National Institute of Economic and Social Research, Bank of England, November
  • 2011
Productivity and Monetary Policy”, speech given at the South Tyneside Manufacturing Forum, Bank of England, 21 September
  • 2011
Why the Bank Rate Should Increase Now”, speech given at the Finance Directors
  • 2011