Question 1: Which of the following was the most important cause for the slowdown in UK productivity growth?
Labour market factors
To a large extent, the productivity slow-down can be mechanically accounted for by the increase in employment rates and the ratio of employment to population. Therefore labour market factors need to be understood better: for example, demand for new forms of labour types and skills in the last 10-15 years, particularly in the sector of services.
The CFM surveys informs the public about the views held by prominent economists based in Europe on important macroeconomic and public policy questions. Some surveys focus specifically on the UK economy (as the CFM is a UK research centre), but surveys can in principle focus on any macroeconomic question for any region. The surveys shed light on the extent to which there is agreement or disagreement among these experts. An important motivation for the survey is to give a more comprehensive overview of the beliefs held by economists and in particular to include the views of those economists whose opinions are not frequently heard in public debates.
Questions mainly focus on macroeconomic and public policy topics. Although there are some questions that focus specifically on the UK economy, the setup of the survey is much broader and considers questions related to other countries/regions and also considers questions not tied to a specific economy.
The surveys are done in collaboration with the Centre for Economic Policy Research (CEPR).