We revisit UK’s poor productivity performance since the Great Recession by means of both a suitable theoretical … over time, and distinguish between quantity total factor productivity (TFP-Q), i.e., the capacity to turn inputs into more … physical output (number of shirts, liters of beer), and what we call revenue total factor productivity (TFPR), i …

interactions between MP and trade. According to the model with MP, supply-side productivity shocks contributed to the collapse of … to shocks that affected aggregate productivity and were specific to multinationals in a few key headquarters countries …

strategy exploits the heterogeneous impact of the shock on importers. The results indicate that this relatively minor, non …-localized shock had a non-trivial economic impact on exposed firms and propagated downstream through affected suppliers. Additional …

an uncertainty shock. We find a significantly stronger response of real activity in recessions. Counterfactual …