The behaviour of labour productivity in the United Kingdom since the onset of the recession in early 2008 constitutes a … puzzle. Over four years after the recession began labour productivity is still below its previous peak level. This paper … crisis to have both a short-run effect on the growth rate of labour productivity and a long-run effect on its level is …

Labour productivity in the United Kingdom has been exceptionally weak since the 2007/08 financial crisis. This paper … finds that within-firm productivity growth tends to be procyclical and emphasises the importance of the reallocation of … resources between firms and sectors for productivity growth. More specifically, we find that up until 2011 there was a doubling …

In the wake of the financial crisis output fell dramatically while inflation remained above its target and productivity … collapsed relative to its previous trend. The fall in productivity relative to trend was particularly pronounced within the … the model can explain some of the qualitative movements in productivity seen in response to the financial crisis. …