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Tag Archives: productivity

The pandemic’s uncertain impact on productivity

The pandemic has certainly permanently affected our way of working. Whether this is for the better remains to be seen. By: Maria Demertzis Date: September 28, 2021 Topic: European Macroeconomics & Governance A Greek language version of this piece was published in the Money Review section of Kathimerini and a Spanish version is forthcoming in El Economista. Support provided to firms to protect economic activity and employment during the pandemic has been unprecedented in...

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Restarting the economy?

While the end of the pandemic is still far, the economy will have to restart. By: The Sound of Economics Date: June 30, 2021 Topic: European Macroeconomics & Governance This podcast is an output from the MICROPROD project, which received funding from the European Union’s Horizon 2020 research and innovation programme under grant agreement no. 822390. When COVID-19 struck last spring, European governments rapidly implemented measures to keep businesses afloat. Did those...

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Will COVID accelerate productivity growth?

The COVID-19 pandemic has prompted an increasing number of rich-country firms to reduce their reliance on global supply chains and invest more in robots at home. But it is probably too soon to tell whether this switch will increase productivity growth in advanced economies. By: Dalia Marin Date: February 10, 2021 Topic: European Macroeconomics & Governance Since the mid-2000s, productivity growth in advanced economies has been anaemic. Average annual productivity growth in...

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The productivity paradox: policy lessons from MICROPROD

The objective of MICROPROD, an EU-wide research project that runs until the end of 2021, is to understand what is driving the current productivity slowdown and what the potential consequences are for Europe's economic model and its citizens’ welfare. This Policy Contribution summarises the main, policy-relevant conclusions of the 20 MICROPROD papers delivered so far. This Policy Contribution is an output from the MICROPROD project, which received funding from the European Union’s Horizon...

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Can ‘dodgy data’ explain the UK’s productivity problem?

An article in The Economist recently suggested that the UK’s ‘productivity problem’ may be a product of the Office for National Statistics failing to estimate prices in the telecommunications industry accurately. Bob Hancké writes that this is unlikely to explain why UK productivity appears to lag behind countries like France and Germany. If the UK has failed to measure productivity correctly in the telecommunications sector, it is probable that everyone has made a similar mistake given all...

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AI and the Productivity Paradox

In this blog post, I review the main explanations for this paradox and I briefly discuss relevant policy options in order to increase the contribution of AI on productivity By: Georgios Petropoulos Date: December 24, 2019 Topic: Innovation & Competition Policy Our economy is undergoing tremendous digitalisation through numerous new information technology systems that are based on artificial intelligence and machine learning. While these new technologies bring big efficiency...

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Promoting sustainable and inclusive growth and convergence in the European Union

This speech was delivered by Guntram Wolff at the Informal ECOFIN Meeting in Bucharest on 5 April 2019. By: Guntram B. Wolff Date: April 8, 2019 Topic: European Macroeconomics & Governance This speech, based on the Policy Contribution by Maria Demertzis, André Sapir and Guntram Wolff, was delivered by Guntram Wolff at the Informal ECOFIN Meeting in Bucharest on 5 April 2019.

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Promoting sustainable and inclusive growth and convergence in the European Union

This Policy Contribution was written for the Informal ECOFIN Meeting, Bucharest, 5 April 2019. The authors look at the EU’s economic agenda, discussing the priorities for the next five years. The European Union can look ahead at the next five years from a good economic position. Employment is comparatively high, the recovery has been uninterrupted for several years and income inequality remains less pronounced than elsewhere in the world. But the EU faces nevertheless formidable...

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Backstage: Japan’s inflation problem and monetary policy options

Bruegel senior fellow Zsolt Darvas welcomes Sayuri Shirai, professor at Keio University, visiting scholar at the Asian Development Bank Institute and former Member of the Policy Board of the Bank of Japan (BOJ), for a discussion of the Japanese monetary policy outlook.  Japan is often portrayed in the economic circles as a country facing decades of loss, as it has long been experiencing slow economic growth and sluggish underlying inflation, despite numerous attempts at boosting it. The...

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The gap between wages and productivity

In many EU states, wage growth has been lagging behind productivity growth over recent decades. Bela Galgoczi examines why wages and productivity – essential for a fair distribution of the spoils of economic growth – have increasingly decoupled from each other across European countries. The decoupling of wages from productivity – a widespread phenomenon with wage growth having been lagging behind productivity in the last decades – has not only been a concern for trade unions, but increasingly...

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