This paper studies the productivity impact of heterogeneous capital inputs of selected EU-15 member countries and of …

Slow productivity growth has plagued the euro area since the mid-1990s. That is particularly striking in view of the … large productivity gains in the United States during the same period. This paper shows that the deceleration in labor … productivity in the euro area was caused by structural changes in wage formation that have affected the relative price of labor …

generate substantial productivity improvements across EU member economies. Over a period of 10 years, the predicted increase in … labour productivity resulting from a bold reform package is around 10% for the average EU country, and new member States …

Slow productivity growth has plagued the euro area since the mid-1990s. That is particularly striking in view of the … large productivity gains in the United States during the same period. This paper shows that the deceleration in labor … productivity in the euro area was caused by structural changes in wage formation that have affected the relative price of labor …

industries. Over the same period, productivity gains from reallocation accounted for 50% of European productivity growth and … with changes in productivity and allocative efficiency. This holds across most sectors and countries and supports the …

industries. Over the same period, productivity gains from reallocation accounted for 50% of European productivity growth and … with changes in productivity and allocative efficiency. This holds across most sectors and countries and supports the …

We propose a New Keynesian Dynamic Stochastic General Equilibrium (DSGE) model where a risk aversion shock enters a … the dynamics of several parameters such as the risk aversion parameter; the Taylor rule coefficients; and the role of the … risk aversion shock in output, inflation, interest rate, and real money balances in the Eurozone. Our analysis suggests …