The global productivity slowdown:diagnosis, dauses and remedies

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Autor/in:
Erscheinungsjahr:
2017
Medientyp:
Text
Schlagworte:
  • Offshoring
  • Wage inequality
  • Skill premium
  • Monetary Policy
  • Economic Growth
  • Exports
  • Offshoring
  • Wage inequality
  • Skill premium
  • Monetary Policy
  • Economic Growth
  • Exports
Beschreibung:
  • This paper addresses the long-term slowdown in labour productivity for a panel of 25 countries. First, we look at productivity shifts and trends based on structural break tests and modern filtering techniques. The productivity slowdown is evident in almost all countries we investigate. Second, we deepen the analysis by decomposing labour productivity growth. Third, we use dynamic models to test for Granger causality in the trends and find that there is strong evidence that a slow GDP growth trend causes the subsequent productivity trend. We conclude that the productivity slowdown is a global phenomenon and should therefore be tackled at the international level.
  • This paper addresses the long-term slowdown in labour productivity for a panel of 25 countries. First, we look at productivity shifts and trends based on structural break tests and modern filtering techniques. The productivity slowdown is evident in almost all countries we investigate. Second, we deepen the analysis by decomposing labour productivity growth. Third, we use dynamic models to test for Granger causality in the trends and find that there is strong evidence that a slow GDP growth trend causes the subsequent productivity trend. We conclude that the productivity slowdown is a global phenomenon and should therefore be tackled at the international level.
Lizenz:
  • info:eu-repo/semantics/closedAccess
Quellsystem:
Forschungsinformationssystem der UHH

Interne Metadaten
Quelldatensatz
oai:www.edit.fis.uni-hamburg.de:publications/4fa433ff-5e4f-4c75-838d-ff4529f7ff03