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Erschienen in:
2006 | OriginalPaper | Buchkapitel
Capital, Labour and Productivity: What Role Do They Play in the Potential GDP Weakness of France, Germany and Italy?
verfasst von : Antonio Bassanetti, Jörg Döpke, Roberto Torrini, Roberta Zizza
Erschienen in: Convergence or Divergence in Europe?
Verlag: Springer Berlin Heidelberg
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The paper analyses the recent supply side developments in France, Germany, and Italy by employing a non-parametric approach to estimate potential GDP. The analysis reveals marked heterogeneity among the three countries with regard to the contribution of labour input. Similarities can be found, however, in the slowdown of capital accumulation and in the pronounced worsening of Total Factor Productivity growth. The paper is complemented by estimates of some measures of wage pressures and profitability in order to assess the role played by the movements of relative input prices in the intensity of use of primary factors in the production process.