Productivity growth in the US and the EU

This paper provides an overview of sectoral productivity in Europe for the period 1995-2004. In an earlier discussion paper, we considered the trends in output and employment, however, taken separately, these may reflect differences in size and input intensities. Productivity measures performance and efficiency more accurately than output or employment since it incorporates inputs and outputs into a single measure. As such, we are able to consider a number of research questions more directly.