| Summary: | The thesis _focused on the empirical estimation of total factor productivity(TFP) and contractionary effects. The findings showed no significant evidence of contractionary effects on the UK private business economy on aggregate level. On disaggregate sectoral level; there were some evidence of contractionary effect, from the nondurable sectors and non-manufacturing sectors. Given that the research is an applied econometrics, the thesis therefore, utilised various methodologies to estimate TFP and technology shocks. Equally, it uses two identifying approaches to measure technology. The study employs the latest state of the art techniques in econometric modelling. This is also the first major empirical research focused on analysing technological impact responses to hours or employment for the whole ofUK economy sectors at aggregate and disaggregates level.
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