| 来源类型 | Discussion paper
|
| 规范类型 | 论文
|
| 来源ID | DP15516
|
| DP15516 The UK's Great Demand and Supply Recession |
| Giordano Mion; Nick Jacob
|
| 发表日期 | 2020-12-04
|
| 出版年 | 2020
|
| 语种 | 英语
|
| 摘要 | 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 to both measure demand, and its changes over time, and distinguish between quantity total factor productivity (TFP-Q), i.e., the capacity to turn inputs into more physical output (number of shirts, liters of beer), and what we call revenue total factor productivity (TFP-R), i.e., productivity calculated using revenue (or value-added) as a measure of output and so the capacity to turn inputs into more revenue. This in turn allows us to measure how changes in TFP-Q, demand and markups ultimately affected revenue TFP, as well as labour productivity, over the Great Recession. Our findings suggest that the poor UK firms' productivity performance post-recession is due to both a weakening of demand and a decreasing TFP-Q pushing down sales, markups, revenue TFP and labour productivity. |
| 主题 | Industrial Organization
; International Trade and Regional Economics
; Macroeconomics and Growth
|
| 关键词 | Total factor productivity (tfp)
Revenue tfp
Prices
Demand
Great recession
United kingdom
|
| URL | https://cepr.org/publications/dp15516
|
| 来源智库 | Centre for Economic Policy Research (United Kingdom)
|
| 资源类型 | 智库出版物
|
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/544518
|
推荐引用方式
GB/T 7714 |
Giordano Mion,Nick Jacob. DP15516 The UK's Great Demand and Supply Recession. 2020.
|
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