Resource title

Capital quality improvement and the sources of growth in the euro area

Resource image

image for OpenScout resource :: Capital quality improvement and the sources of growth in the euro area

Resource description

The euro area experienced a slowdown in output and Total Factor Productivity growth in the 1990s compared to the 1980s. We ask the following questions. Is the apparent slowdown in euro area output due to a lack of proper accounting for capital quality improvement? The answer is no. Did technological change really slow down in the euro area? The answer here is mixed. The part of the technological change that is embodied in capital goods and boosts output through investment in these goods in fact accelerated in the 1990s. In contrast, disembodied technological change, which boosts output through new consumer goods or new production processes, decelerated in the 1990s more sharply than the official figures portray.

Resource author

Plutarchos Sakellaris, Focco W. Vijselaar

Resource publisher

Resource publish date

Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/18816

Resource license

Adapt according to the presented license agreement and reference the original author.