Blog
Supply-Side Indicators for the UK
15th February 2009
I am about to start teaching supply-side economics with my AS students so the time has come to update some of the charts I use to illustrate aspects of supply-side performance. This is available to download as a PowerPoint file below.
Supply-side policies are designed to:
Improve incentives for people to get new jobs
Increase the productivity of labour and capital inputs
Increase the occupational and geographical mobility of labour to reduce unemployment
Increase the level of capital investment and research and development spending by firms
Stimulate inflows of overseas capital investment
Increase business efficiency by promoting more competition within and between markets
Stimulate a faster pace of invention and innovation throughout the economy
Provide a platform for sustained non-inflationary growth of an economy
The charts cover:
Importance of supply-side policies
Relative productivity
Estimates of Trend Growth
Spending on research and development
Output per hour worked
Potential GDP and Trend Growth
Investment and Productivity in the UK Economy
Actual and Potential GDP
Investment and GDP Growth
Profitability of Manufacturing and Service Sector Industries
Estimated NAIRU for the UK
UK Output Gap
Labour Market Participation
Unemployment Rates
Unfilled Vacancies
Public and Private Sector Jobs
Inflation-Unemployment Trade Off
Relative Living Standards
ChartRoom Presentation
Supply_Side_Indicators_UK.ppt
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.