How Much Spare Capacity Is There in the UK Economy?

Journal article

In this paper, Stephen Nickell, member of the Bank's Monetary Policy Committee, analyses the extent of spare capacity in the UK economy. The results indicate that the amount of spare capacity available in 2004 is greater than in 1999-2000, not very different from that in 2001-03 and slightly less than in 1995-98. On balance, there still appears to be some spare capacity available in the labour market, but within firms the overall situation is tight.

Authors: Nickell, S

• Journal: Bank of England Quarterly Bulletin
• Volume: 45
• Publication date: 2005-01-01
• ISSN: 0005-5166
• Language: English