Tracing Productivity Growth Channels in the UK /

Tracing Productivity Growth Channels in the UK /

What drove the UK productivity slowdown post-GFC, and how is the post-Covid recovery expected to differ? This paper traces the sources of TFP growth in the UK over the last two decades through the lens of a structural model of innovation, using registry data on the universe of firms. The dominant in...

Täydet tiedot

Bibliografiset tiedot
Päätekijä: Garcia-Macia, Daniel
Muut tekijät: Korosteleva, Julia
Aineistotyyppi: Aikakauslehti
Kieli:English
Julkaistu: Washington, D.C. : International Monetary Fund, 2021.
Sarja:IMF Working Papers; Working Paper ; No. 2021/273
Aiheet:
Aggregate Human Capital
Aggregate Labor Productivity
Employment
Intergenerational Income Distribution
Unemployment
Wages
Linkit:Full text available on IMF
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100 1 |a Garcia-Macia, Daniel. 
245 1 0 |a Tracing Productivity Growth Channels in the UK /  |c Daniel Garcia-Macia, Julia Korosteleva. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2021. 
300 |a 1 online resource (32 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a What drove the UK productivity slowdown post-GFC, and how is the post-Covid recovery expected to differ? This paper traces the sources of TFP growth in the UK over the last two decades through the lens of a structural model of innovation, using registry data on the universe of firms. The dominant innovation source in the pre-GFC decade were improvements by incumbent firms on their own products, whereas creation of new varieties by entrants took a leading role post-GFC. In the Covid recovery, survey data suggests that creative destruction (i.e., innovation replacing other firms' products) is expected to gain importance. This emphasizes the need for growth policies that facilitate labor and capital reallocation across firms, in addition to R and D support. 
538 |a Mode of access: Internet 
650 7 |a Aggregate Human Capital  |2 imf 
650 7 |a Aggregate Labor Productivity  |2 imf 
650 7 |a Employment  |2 imf 
650 7 |a Intergenerational Income Distribution  |2 imf 
650 7 |a Unemployment  |2 imf 
650 7 |a Wages  |2 imf 
700 1 |a Korosteleva, Julia. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2021/273 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2021/273/001.2021.issue-273-en.xml  |z IMF e-Library 

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