Explaining the gaps in labour productivity in some developed countriesNo 30, Money Macro and Finance (MMF) Research Group Conference 2006 from Money Macro and Finance Research Group Abstract: Modern economic theories explain differences in productivity and economic growth by differences in political and economic institutions, and differences in culture, geographical location, policies, and laws. Another new strand of the literature explains productivity and economic growth differentials by gaps in general purpose technology and information and communication technology, while another literature cites real exchange rate depreciations as the main explanatory variable. These gaps might explain differences in economic performances between developed and developing countries, but they are too small to explain differences between developed industrial economies such as New Zealand and Australia or Canada and the United States. In this paper, more than eighty percent of labour productivity gaps between New Zealand and Australia and Canada and the United States are explained by endogenous technology shocks (TFP) and capital intensities. Keywords: Productivity; nontradable prices; real exchange rate (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:mmf:mmfc06:30 Access Statistics for this paper More papers in Money Macro and Finance (MMF) Research Group Conference 2006 from Money Macro and Finance Research Group |
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