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The Global Productivity Slowdown: Diagnosis, Causes and Remedies

Author

Listed:
  • Georg Erber
  • Ulrich Fritsche

    (University of Hamburg)

  • Patrick Christian Harms

    (University of Hamburg)

Abstract

This paper addresses the long-term slowdown in labour productivity for a panel of 25 countries. First, we look at productivity shifts and trends based on structural break tests and modern filtering techniques. The productivity slowdown is evident in almost all countries we investigate. Second, we deepen the analysis by decomposing labour productivity growth. Third, we use dynamic models to test for Granger causality in the trends and find that there is strong evidence that a slow GDP growth trend causes the subsequent productivity trend. We conclude that the productivity slowdown is a global phenomenon and should therefore be tackled at the international level.

Suggested Citation

  • Georg Erber & Ulrich Fritsche & Patrick Christian Harms, 2017. "The Global Productivity Slowdown: Diagnosis, Causes and Remedies," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 52(1), pages 45-50, January.
    • Handle: RePEc:spr:intere:v:52:y:2017:i:1:d:10.1007_s10272-017-0642-2
    DOI: 10.1007/s10272-017-0642-2
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    Cited by:

    1. Ian Goldin & Pantelis Koutroumpis & François Lafond & Julian Winkler, 2024. "Why Is Productivity Slowing Down?," Journal of Economic Literature, American Economic Association, vol. 62(1), pages 196-268, March.
    2. Bergins, Adele & McGuinness, Seamus, 2022. "Modelling productivity levels in Ireland and Northern Ireland," Research Series, Economic and Social Research Institute (ESRI), number RS152, June.
    3. Jaana Remes, Jan Mischke and Mekala Krishnan, 2018. "Solving the Productivity Puzzle: The Role of Demand and the Promise of Digitization," International Productivity Monitor, Centre for the Study of Living Standards, vol. 34, pages 28-51, Fall.
    4. Julius Probst, 2019. "Lawrence Summers Deserves a Nobel Prize for Reviving the Theory of Secular Stagnation," Econ Journal Watch, Econ Journal Watch, vol. 16(2), pages 342–373-3, September.

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