have occurred due to changes in factor prices: a large fall in real wages and increases in the cost of capital. In previous … recessions real wages did not fall, but reforms to union strength and welfare have made wages more sensitive to negative demand … misallocation. The fall in labour productivity is therefore likely to reverse if demand improves - e.g. through stronger monetary or …

and fiscal policies during the recession, reductions in real producer wages and relatively buoyant real consumer wages … back and productivity growth remains low, it may be that it will take a long time for employment to return to levels last …

: the distinction between the displacement, productivity and amenity effects of immigration; the issues that arise in using …

It is standard in the literature on training to use wages as a sufficient statistic for productivity. But there are … many reasons why wages and productivity may diverge. This paper is part of a smaller literature on the effects of work … training, productivity and wages. Using a variety of econometric estimation techniques (including system GMM) we find that …

domestic workers to reflect differences in labour productivity. However, using panel data on worker-firm matches in a single … only partially accounted for by individual labour productivity. We show that the differential partly reflects the superstar …

century? After years of inadequate investment in skills, infrastructure and innovation, there are longstanding structural …