The driving force of labor productivity
Ivan Kitov () and
Oleg Kitov ()
MPRA Paper from University Library of Munich, Germany
Labor productivity in developed countries is analyzed and modeled. Modeling is based on our previous finding that the rate of labor force participation is a unique function of GDP per capita. Therefore, labor productivity is fully determined by the rate of economic growth, and thus, is a secondary economic variable. Initially, we assess a model for the U.S. and then test it using data for Japan, France, the UK, Italy, and Canada. Results obtained for these countries validate those for the U.S. The evolution of labor force productivity is predictable at least at an 11-year horizon.
Keywords: productivity; labor force; real GDP; prediction; modeling (search for similar items in EconPapers)
JEL-codes: J2 O4 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-eff and nep-lab
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Working Paper: The driving force of labor productivity (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:9069
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