Verfügbarkeit: Why is Productivity Growth in the Euro Area so Sluggish?

Why is Productivity Growth in the Euro Area so Sluggish?:

Slow productivity growth has plagued the euro area since the mid-1990s. That is particularly striking in view of the large productivity gains in the United States during the same period. This paper shows that the deceleration in labor productivity in the euro area was caused by structural changes in...

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1. Verfasser:	Estevão, Marcello M. (VerfasserIn)
Format:	Elektronisch E-Book
Sprache:	English
Veröffentlicht:	Washington, D.C International Monetary Fund 2004
Schriftenreihe:	IMF Working Papers Working Paper No. 04/200
Online-Zugang:	UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 URL des Erstveröffentlichers
Zusammenfassung:	Slow productivity growth has plagued the euro area since the mid-1990s. That is particularly striking in view of the large productivity gains in the United States during the same period. This paper shows that the deceleration in labor productivity in the euro area was caused by structural changes in wage formation that have affected the relative price of labor, increased the labor intensity of growth and, thus, reduced the rate of capital deepening. Technological shocks seem to have played a minor role in explaining slower productivity growth in the euro area. In addition, a surge in capital deepening and, mainly, TFP growth in key service industries in the United States explain a large part of the productivity growth gap between the two regions in the second half of the 1990s
Beschreibung:	1 Online-Ressource (36 p)
ISBN:	1451860196 9781451860191

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spelling	Estevão, Marcello M. Verfasser aut Why is Productivity Growth in the Euro Area so Sluggish? Estevão, Marcello M Washington, D.C International Monetary Fund 2004 1 Online-Ressource (36 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 04/200 Slow productivity growth has plagued the euro area since the mid-1990s. That is particularly striking in view of the large productivity gains in the United States during the same period. This paper shows that the deceleration in labor productivity in the euro area was caused by structural changes in wage formation that have affected the relative price of labor, increased the labor intensity of growth and, thus, reduced the rate of capital deepening. Technological shocks seem to have played a minor role in explaining slower productivity growth in the euro area. In addition, a surge in capital deepening and, mainly, TFP growth in key service industries in the United States explain a large part of the productivity growth gap between the two regions in the second half of the 1990s Online-Ausg http://elibrary.imf.org/view/IMF001/07947-9781451860191/07947-9781451860191/07947-9781451860191.xml Verlag URL des Erstveröffentlichers Volltext
spellingShingle	Estevão, Marcello M. Why is Productivity Growth in the Euro Area so Sluggish?
title	Why is Productivity Growth in the Euro Area so Sluggish?
title_auth	Why is Productivity Growth in the Euro Area so Sluggish?
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title_full_unstemmed	Why is Productivity Growth in the Euro Area so Sluggish? Estevão, Marcello M
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