Jump to ContentJump to Main Navigation
Productivity and the Bonus Culture$
Users without a subscription are not able to see the full content.

Andrew Smithers

Print publication date: 2019

Print ISBN-13: 9780198836117

Published to Oxford Scholarship Online: May 2019

DOI: 10.1093/oso/9780198836117.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 07 April 2020

Poor Productivity and Damaging Demography

Poor Productivity and Damaging Demography

Chapter:
(p.18) 3 Poor Productivity and Damaging Demography
Source:
Productivity and the Bonus Culture
Author(s):

Andrew Smithers

Publisher:
Oxford University Press
DOI:10.1093/oso/9780198836117.003.0003

Over the past decade the slowdown in growth has reduced UK GDP by 20 per cent and US by 18 per cent. The contributions to this decline are calculated from changes in the population of working age, unemployment, participation rates, hours worked, and labour productivity. This shows that the deterioration in productivity caused 102 per cent of the slowdown in the growth of GDP for the UK and 65 per cent for the US, and the changes in demography caused 15 per cent of the slowdown in the UK and 37 per cent in the US. At least 100 per cent of this decline was therefore caused by damaging changes in demography and productivity. Changes in unemployment, participation rates, and hours worked offset some of the deterioration in demography in the UK but had almost no combined impact in the US.

Keywords:   demand, supply, unemployment, capacity, growth, hours worked, output per hour, productivity, working age, participation rates

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .