Capital, Labour and Productivity: What Role Do They Play in the Potential GDP Weakness of France, Germany and Italy?
Antonio Bassanetti (),
Jörg Döpke (),
Roberto Torrini () and
Roberta Zizza ()
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Antonio Bassanetti: Banca d’Italia
Jörg Döpke: Deutsche Bundesbank
A chapter in Convergence or Divergence in Europe?, 2006, pp 123-159 from Springer
Summary The paper analyses the recent supply side developments in France, Germany, and Italy by employing a non-parametric approach to estimate potential GDP. The analysis reveals marked heterogeneity among the three countries with regard to the contribution of labour input. Similarities can be found, however, in the slowdown of capital accumulation and in the pronounced worsening of Total Factor Productivity growth. The paper is complemented by estimates of some measures of wage pressures and profitability in order to assess the role played by the movements of relative input prices in the intensity of use of primary factors in the production process.
Keywords: Potential output; growth accounting; productivity; NAIRU; factor shares (search for similar items in EconPapers)
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Working Paper: Capital, labour and productivity: What role do they play in the potential GPD weakness of France, Germany and Italy? (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-540-32611-3_8
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