Unraveling the Productivity Paradox: Evidence for Germany

IF 1.2 4区 经济学 Q3 ECONOMICS
Désirée I. Christofzik, Steffen Elstner, Lars P. Feld, Christoph M. Schmidt
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引用次数: 0

Abstract

Despite massive digitization efforts, the German economy has experienced a marked slowdown in its productivity growth. This paper empirically analyzes three prominent explanations for this development. First, using a novel quarterly utilization-adjusted total factor productivity measure for the German economy, we find that the slowdown in U.S. productivity growth since the mid-2000s had only a negligible impact on the German productivity trend. Second, the structural shift towards services in the German economy explains a sizeable share of the weaker aggregate productivity gains. This transformation process is associated with a strong labor market performance. And third, employing a novel identification procedure, we show that technological progress in the German information and communication technology (ICT) producing sector stimulates both, aggregate output and employment growth. Its effect on aggregate productivity is, however, small.
破解生产力悖论:德国的证据
尽管德国在数字化方面做出了巨大努力,但其经济生产率的增长速度却明显放缓。本文从实证角度分析了这一发展的三个重要原因。首先,我们使用一种新颖的按季度对德国经济进行利用率调整后的全要素生产率衡量方法,发现自 2000 年代中期以来美国生产率增长放缓对德国生产率趋势的影响微乎其微。其次,德国经济向服务业的结构性转变解释了总体生产率增长疲软的很大一部分原因。这一转型过程与强劲的劳动力市场表现有关。第三,我们采用了一种新颖的识别程序,表明德国信息和通信技术(ICT)生产部门的技术进步刺激了总产出和就业的增长。然而,它对总生产率的影响很小。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
CiteScore
2.30
自引率
9.10%
发文量
17
期刊介绍: German Economic Review, the official publication of the German Economic Association (Verein für Socialpolitik), is an international journal publishing original and rigorous research of general interest in a broad range of economic disciplines, including: - macro- and microeconomics - economic policy - international economics - public economics - finance - business administration The scope of research approaches includes theoretical, empirical and experimental work. Innovative and thought-provoking contributions, in particular from younger authors, are especially welcome.
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