This Selected Issues paper examines labor productivity in Israel. Israel's GDP per capita is low relative to the United States despite high labor input, as labor productivity is low. Catch-up of labor productivity to the United States stopped in the 1980s and relative labor productivity has...

KEY ISSUES Removing structural obstacles to growth. After six years of persistent contraction, Croatia’s economy is showing signs of a tentative recovery, supported by a favorable environment—the last economy in emerging Europe to exit the post-Lehman recession of 2008/09. Deep-seated...

KEY ISSUES Seizing the Window of Opportunity for Reform and Growth Context: Euro area-wide policies and national efforts have supported a turnaround in market sentiment and real activity. Italy’s performance since the crisis, however, has been among the weakest in the euro area. Real activity...

Context. The recovery has strengthened and employment is increasing, driven by the rebound in consumption and investment. Reforms and strong policy implementation have supported the return of confidence, and significant external tailwinds are helping. However, the level of unemployment remains...