In the years since the Great Recession, many observers have highlighted the slow pace of labor and total factor productivity (TFP) growth in advanced economies. This paper focuses on the European experience, where we highlight that trend TFP growth was already low in the runup to the Global Financial Crisis (GFC). This suggests that it is important to consider factors other than just the deep crisis itself or policy changes since the crisis. After the mid-1990s, European economies stopped converging, or even began diverging, from the U.S. level of TFP. That said, in contrast to the United States, there is some macroeconomic evidence for some northern European countries that the GFC had a further adverse impact on TFP growth. Still, the chal...
The productivity slowdown has been analysed either as an effect of the crisis, resulting from the fi...
Europe, like many of the world's advanced economies, is facing a fundamental growth challenge. Growt...
The productivity slowdown in Europe since the mid-1990s is a reason for concern. Labour market rigid...
In the years since the Great Recession, many observers have highlighted the slow pace of labor and t...
This article revisits the issue of Europe's growth slowdown, taking into account the latest exp...
2004 This Working Paper should not be reported as representing the views of the IMF. The views expre...
Even before the financial crisis of 2007/08, there were significant questions about Europe's long-te...
In his article, Gros calls for a more active policy towards improving productivity, since neither ch...
Slow productivity growth has plagued the euro area since the mid-1990s. That is particularly strikin...
Abstract. In this study we have analyzed the evolution of the EU-15 labour productivity in the last ...
International audienceIn the years since the Great Recession, many observers have highlighted the sl...
The recent decline in aggregate labor productivity growth in leading economies has been widely descr...
This paper studies procyclical productivity growth at the industry level in the U.S. and in three Eu...
We estimate trend UK labour productivity growth using a Hodrick-Prescott filter method. We use the r...
We review the recent performance of the Euro area economy, focusing in detail on the separate roles ...
The productivity slowdown has been analysed either as an effect of the crisis, resulting from the fi...
Europe, like many of the world's advanced economies, is facing a fundamental growth challenge. Growt...
The productivity slowdown in Europe since the mid-1990s is a reason for concern. Labour market rigid...
In the years since the Great Recession, many observers have highlighted the slow pace of labor and t...
This article revisits the issue of Europe's growth slowdown, taking into account the latest exp...
2004 This Working Paper should not be reported as representing the views of the IMF. The views expre...
Even before the financial crisis of 2007/08, there were significant questions about Europe's long-te...
In his article, Gros calls for a more active policy towards improving productivity, since neither ch...
Slow productivity growth has plagued the euro area since the mid-1990s. That is particularly strikin...
Abstract. In this study we have analyzed the evolution of the EU-15 labour productivity in the last ...
International audienceIn the years since the Great Recession, many observers have highlighted the sl...
The recent decline in aggregate labor productivity growth in leading economies has been widely descr...
This paper studies procyclical productivity growth at the industry level in the U.S. and in three Eu...
We estimate trend UK labour productivity growth using a Hodrick-Prescott filter method. We use the r...
We review the recent performance of the Euro area economy, focusing in detail on the separate roles ...
The productivity slowdown has been analysed either as an effect of the crisis, resulting from the fi...
Europe, like many of the world's advanced economies, is facing a fundamental growth challenge. Growt...
The productivity slowdown in Europe since the mid-1990s is a reason for concern. Labour market rigid...