Productivity Trends in Advanced Countries between 1890 and 2012 - Aix-Marseille Université Access content directly
Journal Articles Review of Income and Wealth Year : 2016

Productivity Trends in Advanced Countries between 1890 and 2012

Abstract

In order to examine productivity waves and convergence processes, we study productivity trends, trend breaks, and levels for 13 advanced countries between 1890 and 2012. We highlight two productivity waves, a big one following the second industrial revolution and a smaller one following the ICT revolution. The convergence process has been erratic, halted by inappropriate institutions, technology shocks, financial crises, and above all wars, which led to major productivity level leaps, downwards for countries experiencing war on their soil, and upwards for other countries. Productivity trend breaks have been identified following wars, global financial crises, global supply shocks, and major policy changes. The upward trend break for the U.S. in the mid-1990s has been confirmed, as has the downward trend break for the euro area in the same period.

Dates and versions

hal-01440309 , version 1 (19-01-2017)

Identifiers

Cite

Antonin Bergeaud, Gilbert Cette, Rémy Lecat. Productivity Trends in Advanced Countries between 1890 and 2012. Review of Income and Wealth, 2016, 62 (3), pp.420--444. ⟨10.1111/roiw.12185⟩. ⟨hal-01440309⟩
112 View
0 Download

Altmetric

Share

Gmail Facebook X LinkedIn More