Most of the countries of Western Europe grew at unprecedented rates from the late 1940s until the early 1970s. Another feature of this period was dramatic structural change, as employment shifted from agriculture to manufacturing and services. This Paper uses growth accounting to measure the direct contribution of structural change to aggregate productivity growth. The conventional accounting framework is extended and then applied to Western Europe and the USA for the period 1950-90. The Paper quantifies the importance of structural change in explaining the Golden Age, the productivity slowdown, and the cross-country variation in post-war growth rates.
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Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number
2861.
Find related papers by JEL classification: O52 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Europe
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
Alan Krueger, 1999.
"Measuring Labor's Share,"
Working Papers
792, Princeton University, Department of Economics, Industrial Relations Section..
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