Labor Productivity Developments in Austria in an International Perspective

Martin Schneider ()

Monetary Policy & the Economy, 2014, issue 3, 13-35

Abstract: After World War II, Austria, like other European countries, had for decades been improving its labor productivity, continuously catching up relative to the United States. Only then U.S. labor productivity grew at an accelerated pace from the mid-1990s to the mid-2000s on the back of new technologies implemented in distribution as well as finance and business services, did Austria – and in particular its service sector – fall behind. Unlike the U.S.A., Austria did not benefit from a technology-driven boom. By contrast, the productivity performance of Austrian manufacturing, without the production of information and communications technologies, is comparable to that in the U.S.A. and in Germany. Hence, to boost labor productivity in Austria, a high priority should be given to policies stimulating the diffusion of new technologies in the service sector.

Keywords: Labor productivity; growth accounting; services; information and communications technologies (search for similar items in EconPapers)
JEL-codes: O30 O47 O57 (search for similar items in EconPapers)
Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.oenb.at/dam/jcr:0787f0d8-4840-4aff-b4e ... 14_q3_analyses_2.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:onb:oenbmp:y:2014:i:3:b:2

Ordering information: This journal article can be ordered from
Oesterreichische Nationalbank, Documentation Management and Communications Services, Otto-Wagner Platz 3, A-1090 Vienna, Austria

Access Statistics for this article

Monetary Policy & the Economy is currently edited by Gerhard Fenz and Maria Teresa Valderrama

More articles in Monetary Policy & the Economy from Oesterreichische Nationalbank (Austrian Central Bank) P.O. Box 61, A-1011 Vienna, Austria. Contact information at EDIRC.
Bibliographic data for series maintained by Rita Glaser-Schwarz ().