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Labor Productivity

Labor Productivity. Definition. Labor productivity : Productivity per hour-worked:. Definition. Importance of labor productivity: GDP per-capita = Productivity per hour worked x Total hours worked x Participation rate x Share of adult population to be able to work. Definition.

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Labor Productivity

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  1. Labor Productivity

  2. Definition • Labor productivity : • Productivity per hour-worked:

  3. Definition Importance of labor productivity: GDP per-capita = Productivity per hour worked x Total hours worked x Participation rate x Share of adult population to be able to work

  4. Definition • Factors influencing on productivity growth: • Capital deepening • Labor quality • Total factor productivity

  5. US vs EU

  6. US productivity growth Source: D. Jorgenson et al. (2008)

  7. US sources of productivity • From 1995-2000 : ICT • From 2000 on : Capital deepening

  8. EU: empirical evidence Source: van Ark et al. (2008)

  9. EU: empirical evidence Source:R. Inklaar et al.. (2008)

  10. EU: empirical evidence Source: van Ark et al. (2008)

  11. EU: empirical evidence Source: van Ark et al. (2008)

  12. EU • 1950 -1973 : Catching-up period. Technology imitation and new institutions • 1973-1995: Productivity slowdown. Reduction: labor force participation rate and working hours • 1995-2006: Europe’s falling behind. Slower ICT diffusion

  13. EU vs US: sources of prod. growth Source: van Ark et al. (2008)

  14. EU vs US: sources of prod. growth Source: van Ark et al. (2008)

  15. The puzzle of service sector Source: van Ark et al. (2008)

  16. The puzzle of service sector Source: van Ark et al. (2008)

  17. The puzzle of service sector Source: R. Inklaar. (2008)

  18. The puzzle of service sector Source: R. Inklaar. (2008)

  19. The puzzle of service sector Source: R. Inklaar. (2008)

  20. Strategies for the EU • Find mechanism to exploit service innovations • Emphasis on human resources • Services: less standardized and more customized production.

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