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- Title
Productivity growth, adjustment costs and variable factor utilisation: the UK case.
- Authors
Groth, Charlotta; Nuñez, Soledad; Srinivasan, Sylaja
- Abstract
The paper tries to estimate underlying productivity growth by accounting for several factors that may bias the standard estimate of productivity growth, and thereby give a distorted picture of underlying technological progress. It assesses and accounts for the lack of a pickup in British productivity growth during the 1990s. The results suggest that the aggregate Solow residual underestimates underlying British total factor productivity growth through the 1990s.
- Subjects
INDUSTRIAL productivity; ECONOMIC conditions in Great Britain -- 1945-; ECONOMIC development; COST; TECHNOLOGICAL innovations
- Publication
Bank of England Quarterly Bulletin, 2006, Vol 46, Issue 2, p176
- ISSN
0005-5166
- Publication type
Article