36 Fraser of Allander Institute
Table 15: Sensitivity analysis. Multiple cohort analysis for 2008/09 - 2015/16: long-run effects of a change
in labour productivity. (In percentage changes from base year values.)
Long-run: single cohort Long-run: multiple cohort
GDP (and GDP per capita) 0.23 1.63
Consumer price index (CPI) -0.13 -0.90
Unemployment rate (pp difference) -0.03 -0.23
Total employment 0.02 0.12
Nominal gross wage -0.10 -0.68
Real gross wage 0.03 0.22
Households consumption 0.04 0.31
Investment 0.22 1.55
Capital stock 0.22 1.55
Export RUK 0.22 1.55
Export ROW 0.23 1.61
GDP in present value terms (£billion) 4.6 29.0
GDP in present value terms per graduate (£thousands) 55 50
Source: Fraser of Allander Institute