The paper shows that the assessment of the speed of productivity growth crucially depends on how one chooses to measure value added. According to a widely held view, the growth rate of labour productivity has increased significantly in the U.S. since the mid-90s. The U.S. is perceived to outperform most European countries in this respect by a wide margin. Comparing the U.S. with Switzerland, we show this view to rely - at least in part - on statistical artefacts.
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Article provided by Justus-Liebig University Giessen, Department of Statistics and Economics in its journal Journal of Economics and Statistics.
Volume (Year): 226 (2006) Issue (Month): 4 (July) Pages: 418-435 Download reference. The following formats are available: HTML
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Find related papers by JEL classification: C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence O57 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
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