Covid-19 likely harms productivity – BoE paper

Coronavirus

The Covid-19 pandemic is likely to take a significant toll on the productivity of UK firms, research published by the Bank of England finds.

Nicholas Bloom, Philip Bunn, Paul Mizen, Pawel Smietanka and Gregory Thwaites use data from the BoE’s decision-maker panel (DMP) survey to estimate the impact of the pandemic on productivity. While the DMP does not ask directly about productivity, it does include questions on all of the main elements of productivity: inputs, outputs and prices.

The

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