Publication

Does disappointing European productivity growth reflect a slowing trend? Weighing the evidence and assessing the future

Fernald, J. & Inklaar, R., 5-Jun-2020, In : International Productivity Monitor. 2020, 38, p. 104-135 32 p.

Research output: Contribution to journalArticleAcademicpeer-review

APA

Fernald, J., & Inklaar, R. (2020). Does disappointing European productivity growth reflect a slowing trend? Weighing the evidence and assessing the future. International Productivity Monitor, 2020(38), 104-135.

Author

Fernald, John ; Inklaar, Robert. / Does disappointing European productivity growth reflect a slowing trend? Weighing the evidence and assessing the future. In: International Productivity Monitor. 2020 ; Vol. 2020, No. 38. pp. 104-135.

Harvard

Fernald, J & Inklaar, R 2020, 'Does disappointing European productivity growth reflect a slowing trend? Weighing the evidence and assessing the future', International Productivity Monitor, vol. 2020, no. 38, pp. 104-135.

Standard

Does disappointing European productivity growth reflect a slowing trend? Weighing the evidence and assessing the future. / Fernald, John; Inklaar, Robert.

In: International Productivity Monitor, Vol. 2020, No. 38, 05.06.2020, p. 104-135.

Research output: Contribution to journalArticleAcademicpeer-review

Vancouver

Fernald J, Inklaar R. Does disappointing European productivity growth reflect a slowing trend? Weighing the evidence and assessing the future. International Productivity Monitor. 2020 Jun 5;2020(38):104-135.


BibTeX

@article{6f44301dcf384add894b22f61730eb3a,
title = "Does disappointing European productivity growth reflect a slowing trend? Weighing the evidence and assessing the future",
abstract = "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 challenges for economic policy look surprisingly similar to the ones discussed prior to the Great Recession, even if the policy implications seem less clear.",
author = "John Fernald and Robert Inklaar",
year = "2020",
month = "6",
day = "5",
language = "English",
volume = "2020",
pages = "104--135",
journal = "International Productivity Monitor",
issn = "1492-9767",
publisher = "CENTRE STUDY LIVING STANDARDS",
number = "38",

}

RIS

TY - JOUR

T1 - Does disappointing European productivity growth reflect a slowing trend? Weighing the evidence and assessing the future

AU - Fernald, John

AU - Inklaar, Robert

PY - 2020/6/5

Y1 - 2020/6/5

N2 - 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 challenges for economic policy look surprisingly similar to the ones discussed prior to the Great Recession, even if the policy implications seem less clear.

AB - 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 challenges for economic policy look surprisingly similar to the ones discussed prior to the Great Recession, even if the policy implications seem less clear.

M3 - Article

VL - 2020

SP - 104

EP - 135

JO - International Productivity Monitor

JF - International Productivity Monitor

SN - 1492-9767

IS - 38

ER -

ID: 126812397