International Evidence on Time-Variation in Trend Labor Productivity Growth

Philipp Wegmueller

Diskussionsschriften from Universitaet Bern, Departement Volkswirtschaft

Abstract: This paper provides international evidence on time-variation in trend productivity growth, based on the dataset for hours worked constructed by Ohanian & Raffo (2012). Applying both the endogenous break tests of Bai & Perron (1998, 2003) and the Stock & Watson (1996, 1998) TVP-MUB methodology, substantial evidence of time-variation in trend productivity growth is detected for most countries. For either Japan, or countries belonging to the Eurozone, evidence points towards a significant growth decline over the last several decades. Weaker evidence is reported for the United States, for which the 1990 s productivity acceleration is estimated to have been overall mild, and of a temporary nature.

Keywords: Labor productivity; structural break tests; time-varying parameters; median-unbiased estimation; bootstrapping; Monte Carlo integration (search for similar items in EconPapers)
JEL-codes: E30 (search for similar items in EconPapers)
Date: 2015-02
New Economics Papers: this item is included in nep-eff, nep-gro and nep-mac
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Citations: View citations in EconPapers (1)

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Related works:
Journal Article: International evidence of time-variation in trend labor productivity growth (2018)
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Persistent link: https://EconPapers.repec.org/RePEc:ube:dpvwib:dp1602

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