explicitly related to the trend of labour force productivity and of the participation rate. These two variables have been … of labour force productivity and the participation rate. Furthermore, since 1995, the growth rate of potential GDP has … been clearly above its historical average because of an increase in the trend of productivity and, to a lesser degree, in …

This paper analyzes the short-run dynamic process of inflation in Canada and examines whether a systematic variation in … the relationship between inflation and output can be detected over time. In the theoretical literature, different models …

quantitatively three potential determinants of the U.S. external imbalances in the last three decades: productivity growth …, demographic factors, and fiscal policy. The results suggest that (1) productivity growth differentials are the main driving force …

constraints can significantly amplify the effects of productivity shocks on output even under standard assumptions on preferences …