International Evidence on Time-Variation in Trend Labor Productivity Growth

Wegmüller, Philipp (February 2016). International Evidence on Time-Variation in Trend Labor Productivity Growth (Discussion Papers 16-02). Bern: Department of Economics

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This paper provides international evidence on time-variation in trend productivity growth, based on the dataset for hours worked constructed by Ohanian & Raffo (2012). Applying both the endogenous break tests of Bai & Perron (1998, 2003) and the Stock & Watson (1996, 1998) TVP-MUB methodology, substantial evidence of time-variation in trend productivity growth is detected for most countries. For either Japan, or countries belonging to the Eurozone, evidence points towards a significant growth decline over the last several decades. Weaker evidence is reported for the United States, for which the 1990’s productivity acceleration is estimated to have been overall mild, and of a temporary nature.

Item Type:

Working Paper

Division/Institute:

03 Faculty of Business, Economics and Social Sciences > Department of Economics

UniBE Contributor:

Wegmüller, Philipp

Subjects:

300 Social sciences, sociology & anthropology > 330 Economics

Series:

Discussion Papers

Publisher:

Department of Economics

Language:

English

Submitter:

Lars Tschannen

Date Deposited:

28 Dec 2020 09:07

Last Modified:

28 Dec 2020 09:07

JEL Classification:

E30

BORIS DOI:

10.48350/145826

URI:

https://boris.unibe.ch/id/eprint/145826

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