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Productivity slowdown in Austria between 1995 and 2019

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  • Zuzana Molnárová

Abstract

This report analyses productivity growth in Austria between 1995 and 2019 using aggregate and industry-level data. We combine two vintages of the EU KLEMS dataset, which provide information on output and productivity growth and growth components for up to 30 countries and 42 industries. We compare Austria's productivity growth with that of peer countries, focusing on developed European small open economies. The analysis confirms the productivity slowdown for Austria, similar to many other developed countries. The productivity growth rates in the most recent part of the sample have not recovered to their pre-financial crisis values. The effect of changing industry composition on productivity growth in Austria was positive and relatively small throughout the sample period, while the decline in productivity growth within industries, both in manufacturing and service sector, was more important. The international comparison shows that the aggregate development in Austria was similar to that of the peer country groups, with higher productivity growth in the years before and during the financial crisis. However, the industry-level evidence shows some important differences for Austria.

Suggested Citation

  • Zuzana Molnárová, 2023. "Productivity slowdown in Austria between 1995 and 2019," Reports 0323, Büro des Produktivitätsrates.
    • Handle: RePEc:bpr:report:0323
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    References listed on IDEAS

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    1. Michael Peneder & Martin Falk & Werner Hölzl & Serguei Kaniovski & Kurt Kratena, 2006. "Teilstudie 3: Wachstum, Strukturwandel und Produktivität. Disaggregierte Wachstumsbeiträge für Österreich von 1990 bis 2004," WIFO Studies, WIFO, number 27442.
    2. Chad Syverson, 2017. "Challenges to Mismeasurement Explanations for the US Productivity Slowdown," Journal of Economic Perspectives, American Economic Association, vol. 31(2), pages 165-186, Spring.
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    More about this item

    Keywords

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    JEL classification:

    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity

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