economic and price level convergence, respectively, refer to the narrowing of the income (productivity) and the price level gap … price levels to converge towards the trend implied by the longer-term relationship between real per capita GDPs and price … levels. Our research affirms and amends the finding that positive/negative deviations from the trend ("over …

The relationship between economic structure and productivity growth has been a subject of increasing interest over …. Traditionally, productivity has been introduced as explaining factor of tertiarization processes in advanced economies, while it has … been simultaneously assessed that services display lower productivity levels and growth rates than other economic …

This paper studies the effect of structural change on the historical path of aggregate labor productivity growth for a … that structural change may have on future productivity growth. We document that the observed reallocation of economic … activity since the 1970s towards the service sector has exerted a strongly negative effect on aggregate productivity growth in …

This paper assesses the productivity puzzle critically and gives an outlook on the COVID-19 crisis. It offers two main … conclusions. First, it posits that a large fraction of the productivity puzzle can be solved by incorporating intangible capital … into the asset boundary of the national accounts. Thus, the productivity puzzle is largely explained as a consequence of …