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Productivity Growth In Service Industries: Are The Transatlantic Differences Measurement-Driven?

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  • Jochen Hartwig

Abstract

Since the mid-nineties, U.S. labor productivity outgrows its European counterpart by a wide margin. van Ark et al. (2003 ) have found three service industries where productivity growth has accelerated in the U.S., but not in Europe, to account for most of the difference. These three industries are wholesale and retail trade, and trade in financial securities. However, since measurement methods differ on both sides of the Atlantic, Europe's shortfall in productivity growth could be a statistical artifact. This paper tries to answer the question whether this is indeed the case by quantifying the extent to which the U.S. growth rates in trade and banking are pulled upward by measurement methods that are unusual in Europe. In addition, some observations are offered on whether the recent upswing in productivity growth in the U.S. services sector has cured "Baumol's Cost Disease." Copyright 2008 The Author. Journal compilation 2008 International Association for Research in Income and Wealth Published.

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Bibliographic Info

Article provided by International Association for Research in Income and Wealth in its journal Review of Income and Wealth.

Volume (Year): 54 (2008)
Issue (Month): 3 (09)
Pages: 494-505

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Handle: RePEc:bla:revinw:v:54:y:2008:i:3:p:494-505

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Cited by:
  1. Andrés Maroto-Sanchez, 2010. "Growth and productivity in the service sector: The state of the art," Working Papers, Instituto Universitario de Análisis Económico y Social 07/10, Instituto Universitario de Análisis Económico y Social.
  2. Jochen Hartwig, 2010. "‘Baumol’s diseases’: the case of Switzerland," KOF Working papers, KOF Swiss Economic Institute, ETH Zurich 10-250, KOF Swiss Economic Institute, ETH Zurich.
  3. Fulvio Castellacci, 2010. "Structural Change And The Growth Of Industrial Sectors: Empirical Test Of A Gpt Model," Review of Income and Wealth, International Association for Research in Income and Wealth, International Association for Research in Income and Wealth, vol. 56(3), pages 449-482, 09.
  4. Robert Inklaar & Marcel P. Timmer & Bart van Ark, 2008. "Data for Productivity Measurement in Market Services: An International Comparison," International Productivity Monitor, Centre for the Study of Living Standards, Centre for the Study of Living Standards, vol. 16, pages 72-81, Spring.
  5. Jochen Hartwig, 2008. "Has health capital formation cured ‘Baumol’s Disease’? – Panel Granger causality evidence for OECD countries," KOF Working papers, KOF Swiss Economic Institute, ETH Zurich 08-206, KOF Swiss Economic Institute, ETH Zurich.
  6. ITO Keiko, 2011. "Entry of Foreign Multinational Firms and Productivity Growth of Domestic Firms: The case of Japanese firms," Discussion papers, Research Institute of Economy, Trade and Industry (RIETI) 11063, Research Institute of Economy, Trade and Industry (RIETI).

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