The UK's great demand and supply recession

Nick Jacob and Giordano Mion

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

Abstract: We revisit the weak productivity performance of the UK since the Great Recession by means of both a suitable theoretical framework and firm-level price and quantity data for detailed products, allowing us to measure both demand and its changes over time and distinguish between quantity total factor productivity and revenue total factor productivity. This in turn allows us to measure how changes in quantity TFP, demand and markups ultimately affected revenue TFP, as well as labour productivity, over the Great Recession. Our findings suggest that the weak productivity performance of UK firms post-recession is due to both weakening demand and decreasing quantity TFP pushing down sales, markups, revenue TFP and labour productivity.

JEL-codes: D24 E01 L11 O47 O52 (search for similar items in EconPapers)
Pages: 30 pages
Date: 2022-11-29
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Published in Oxford Bulletin of Economics and Statistics, 29, November, 2022. ISSN: 0305-9049

Downloads: (external link)
http://eprints.lse.ac.uk/117564/ Open access version. (application/pdf)

Related works:
Journal Article: The UK's Great Demand and Supply Recession* (2023)
Working Paper: The UK's Great Demand and Supply Recession (2021)
Working Paper: The UK's great demand and supply recession (2020)
Working Paper: The UK's Great Demand and Supply Recession (2020)
Working Paper: The UK's Great Demand and Supply Recession (2020)
Working Paper: The UK's great demand and supply recession (2020)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ehl:lserod:117564

Access Statistics for this paper

More papers in LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library LSE Library Portugal Street London, WC2A 2HD, U.K.. Contact information at EDIRC.
Bibliographic data for series maintained by LSERO Manager ().