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Capital, labour and productivity: What role do they play in the potential GPD weakness of France, Germany and Italy?

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  • Bassanetti, Antonio
  • Döpke, Jörg
  • Torrini, Roberto
  • Zizza, Roberta

Abstract

The paper analyses the recent supply side developments in France, Germany, and Italy by employing a non-parametric approach to estimate potential GDP. The analysis reveals marked heterogeneity among the three countries with regard to the contribution made by labour input. Where similarities can be found, however, are in the slowdown of accumulation activity and in the pronounced worsening of total factor productivity. The paper is rounded out by estimates of some measures of wage pressures and of profitability in order to assess the role played by the movements of relative input prices in the intensity of use of primary factors in the production process. --

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Bibliographic Info

Paper provided by Deutsche Bundesbank, Research Centre in its series Discussion Paper Series 1: Economic Studies with number 2006,09.

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Date of creation: 2006
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Handle: RePEc:zbw:bubdp1:4246

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Keywords: Potential output; growth accounting; productivity; NAIRU; factor shares;

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Cited by:
  1. Antonio Bassanetti & Michele Caivano & Alberto Locarno, 2013. "Modelling italian potential output and the output gap," Working Papers, Department of the Treasury, Ministry of the Economy and of Finance 7, Department of the Treasury, Ministry of the Economy and of Finance.
  2. Andrea Brandolini & Piero Casadio & Piero Cipollone & Marco Magnani & Alfonso Rosolia, 2007. "Employment Growth in Italy in the 1990s: Institutional Arrangements and Market Forces," AIEL Series in Labour Economics, AIEL - Associazione Italiana Economisti del Lavoro, in: Nicola Acocella & Riccardo Leoni (ed.), Social Pacts, Employment and Growth. A Reappraisal of Ezio Tarantelli’s Thought, edition 1, chapter 4, pages 31-68 AIEL - Associazione Italiana Economisti del Lavoro.

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