Mcquinn, Kieran; Whelan, Karl - Volkswirtschaftliche Fakultät, … - 2006
productivity, Euro area productivity growth has, since the mid-1990s, fallen significantly behind. We show that this recent … divergence has accelerated since 2000, and that this is mainly due to the poor rate of Euro area TFP growth. Based on prevailing … trends, we estimate that potential output growth in the Euro area currently may be running as low as 1.5 percent per year. In …