of equipment and software grow on average 3 percentage points faster annually - a doubling of their growth rates. Quality …-adjusted output grows 0.46 percentage points faster annually - a 20 percent increase. In terms of growth accounting, quality … adjustment subtracts 11 percentage points from the share of TFP in aggregate growth and adds them to the share of equipment stock …

enlargement to boost the sluggish European growth rate. They think that a larger EU will have a stronger say in global trade …

sectors and large technology initiatives (e.g. Airbus, Ariane, HDTV and ESPRIT); (ii) a support of declining sectors with the … suffer from the absence of large world-class companies, but rather from the absence of growing companies in new high-technology … stimulating and disciplining environment for large companies while at the same time facilitating the growth of young innovative …