Congratulations to Dr Anthony Savagar, Lecturer in Macroeconomics, on winning an ESRC Research Award for £200,000 for his project ‘Firm Dynamics, Market Power and Productivity Puzzles’.
The UK economy faces a productivity puzzle: persistently low levels of output per worker since the 2007 Great Recession, which are largely unexplained. The aim of the project ‘Firm Dynamics, Market Power and Productivity Puzzles’ is to analyse UK business microdata to understand whether changes in firms’ market power have influenced UK productivity since 2007. It will also question whether entry and exit of firms into industries disrupted market power to affect productivity. The objective is to improve understanding of the UK productivity puzzle and to better understand policies affecting market power which may widen the current industrial strategy debate.
Anthony is the Principal Investigator with Professor Miguel Leon-Ledesma as the Co-Investigator.