In sharp contrast with the buoyant economic dynamism observed in most other areas of the world, slow growth and persistently high unemployment have been characterizing the European Union (EU) economy for a number of years. This report investigates some of the possible causes of this poor...

Last year’s International Collaboration Project had helped to highlight several key determinants of potential growth in the European Union (EU): basing upon growth accounting techniques, the main difference between the EU and the US had been shown not to rest on total factor productivity...

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