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 wage formation that have affected the relative... READ MORE...

Publication date: October 2004
ISBN 9781451860191
$15.00

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