Productivity And Per Capita GDP Growth: The Role Of The Forgotten Factors

Average hourly productivity has often been used to draw conclusions on long run per capita GDP growth, based on the assumption of full utilization of labour resources. In this paper, the authors argue that a failure to recognize the potentially significant wedges among the two variables - even in the long run - can be misleading. By applying both time series and panel cointegration techniques on data on 19 OECD countries, they fail to reject the hypothesis of absence of a long run common stochastic trend among the two variables in the period 1980-2005.

Provided by: Munich Personal Repec Archive Topic: Big Data Date Added: Mar 2011 Format: PDF

Download Now

Find By Topic