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Key factors behind productivity trends in EU countries

Author

Listed:
  • Modery, Wolfgang
  • Valderrama, Maria Teresa
  • Lopez-Garcia, Paloma
  • Albani, Maria
  • Anyfantaki, Sofia
  • Baccianti, Claudio
  • Barrela, Rodrigo
  • Bodnár, Katalin
  • Bun, Maurice
  • De Mulder, Jan
  • Falck, Elisabeth
  • Fenz, Gerhard
  • Lopez, Beatriz Gonzalez
  • Labhard, Vincent
  • Le Roux, Julien
  • Linarello, Andrea
  • Martín Fuentes, Natalia
  • Meinen, Philipp
  • Moder, Isabella
  • Oja, Kaspar
  • Ragacs, Christian
  • Oke, Roehe
  • Schulte, Patrick
  • Justo, Ana Seco
  • Serafini, Roberta
  • Setzer, Ralph
  • Lopez, Irune Solera
  • Vanhala, Juuso

Abstract

The aim of this report is to foster a better understanding of past trends in, and drivers of, productivity growth in the countries of the European Union (EU) and of the interplay between productivity and monetary policy. To this end, a group of experts from 15 national central banks and the European Central Bank (ECB) joined forces and pooled data and expertise for more than 18 months to produce the report. Group members drew on the extensive research already conducted on productivity growth, including within the European System of Central Banks and in the context of the review of the ECB’s monetary policy strategy, and worked together to conduct new analyses. JEL Classification: D22, D24, D61, O33, O47, O52

Suggested Citation

  • Modery, Wolfgang & Valderrama, Maria Teresa & Lopez-Garcia, Paloma & Albani, Maria & Anyfantaki, Sofia & Baccianti, Claudio & Barrela, Rodrigo & Bodnár, Katalin & Bun, Maurice & De Mulder, Jan & Falck, 2021. "Key factors behind productivity trends in EU countries," Occasional Paper Series 268, European Central Bank.
  • Handle: RePEc:ecb:ecbops:2021268
    Note: 2648086
    as

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    References listed on IDEAS

    as
    1. Anderton, Robert & Jarvis, Valerie & Labhard, Vincent & Petroulakis, Filippos & Rubene, Ieva & Vivian, Lara, 2021. "The digital economy and the euro area," Economic Bulletin Articles, European Central Bank, vol. 8.
    2. Anderton, Robert & Jarvis, Valerie & Labhard, Vincent & Morgan, Julian & Petroulakis, Filippos & Vivian, Lara, 2020. "Virtually everywhere? Digitalisation and the euro area and EU economies," Occasional Paper Series 244, European Central Bank.
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    More about this item

    Keywords

    drivers and policy implications; European Union; Productivity growth;
    All these keywords.

    JEL classification:

    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe

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