s differed from its predecessors in three important respects: productivity, inflation, and cyclical variability. In the … United States, labor productivity increased much faster in the 1990s than in the previous decades and, contrary to the usual … pattern, accelerated with the duration of the expansion. The view that most of the productivity acceleration was only cyclical …

coordination with monetary policy. According to the simulations, employment in Germany would increase by about 750,000 persons in … the long run if wages increase one percentage point slower than usual over a period of five years. Frequently, countries … productivity and employment. In the framework of the European Union, the presumed positive effects of policy coordination are …

s differed from its predecessors in three important respects: productivity, inflation, and cyclical variability. In the … United States, labor productivity increased much faster in the 1990s than in the previous decades and, contrary to the usual … pattern, accelerated with the duration of the expansion. The view that most of the productivity acceleration was only cyclical …