labour-productivity growth in the US and larger countries of the EU. The continental West-European countries show a … from intangibles, and also larger multi-factor productivity (MFP) growth rates related to the restructuring of those …

After 2004, measured growth in labor productivity and total-factor productivity (TFP) slowed. We find little evidence … quantitative effect on productivity was larger in the 1995-2004 period than since, despite mismeasurement worsening for some types … of IT -- so our adjustments make the slowdown in labor productivity worse. The effect on TFP is more muted. Second, many …

The growth rate of total factor productivity seems to have increased recently, at least in the United States. Higher US … productivity growth may justify higher stock market valuations than in the past and thus herald an emerging New Economy. However …, the size of the estimated growth rate of total factor productivity depends on an assumption about the factor …