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E-book
Author Estevão, Marcello M., author.

Title Why is productivity growth in the Euro area so sluggish? / prepared by Marcello M. Estevao
Published [Washington D.C] : International Monetary Fund, ©2004

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Description 1 online resource (35 pages)
Series IMF working paper, 2227-8885 ; WP/04/200
IMF working paper ; WP/04/200.
Contents ""Contents""; ""I. INTRODUCTION""; ""II. GDP PER CAPITA AND PRODUCTIVITY GROWTH IN THE EURO AREA AND IN THE UNITED STATES""; ""III. LABOR PRODUCTIVITY GROWTH IN THE EURO AREA AND IN THE UNITED STATES USING INDUSTRY- LEVEL DATA""; ""IV. STRUCTURAL LABOR MARKET CHANGES AND CAPITAL DEEPENING""; ""V. FINAL REMARKS""; ""REFERENCES""
Summary 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
Notes "October 2004."
At head of title: European Department
Bibliography Includes bibliographical references
Notes Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL
digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL
Print version record
Subject Labor productivity -- Europe
Industrial productivity -- Europe
Wages -- Europe
Industrial productivity
Labor productivity
Wages
Europe
Form Electronic book
Author International Monetary Fund. European Department, issuing body.
ISBN 1282043277
9781282043275
9781451905557
1451905556
9781451860191
1451860196
ISSN 2227-8885