IPM archive

This study investigates empirically how differences in managerial practices shaped the macroeconomic recovery from the 2008 Great Recession. We build a country-industry panel over the 2007-2015 period for eighteen industries in nine OECD countries, using an indicator of management quality at the country level based on the categorical scores of managerial practices collected at the firm…

Real GDP per capita has been falling in Canada since mid-2022, while the number of non-permanent residents has been rising sharply. This article discusses how these two developments are linked. The paper identifies six factors currently influencing real GDP per capita: (1) labour productivity; (2) average hours worked per job; (3) the employment rate of the…

Data appendix to IPM-46-3 detailing labour input data sources and methods across countries (direct vs. component method for hours), the EUKLEMS 2012/2023 vintage merging methodology, labour composition estimation, and capital service calculations, including treatment of OECD harmonized hours data for the market economy.

We examine the growth and level of UK productivity compared to France, Germany and the United States. There has been a marked slowdown in labour productivity growth: comparing the dozen years before and after the Global Financial Crisis. The average annual growth of the UK’s real value added per hour in the market economy has fallen…

Data appendix to IPM-46-2 providing detailed tables of investment/value added shares, real investment growth, and capital stock growth for tangible and intangible assets (technology-related and business innovation-related) for nine EU countries, the UK, and the U.S., covering 1996-2007 and 2011-2019.

Using the EUKLEMS-INTANProd database (2023 release) for nine EU countries, the UK, and the U.S., this article asks whether intangible capital has lost productivity momentum. Intangible investment shares of nominal GDP continue to rise, but real intangible capital stock growth has moderately slowed. The contribution of intangible capital deepening to labour productivity growth remains positive but…

Online appendix to IPM-46-1 providing the EUKLEMS & INTANProd industry classification list, data availability summary by country, and quantification of TFP impact from including additional intangible assets beyond national accounts coverage, using U.S. data as illustration.

This article undertakes a comparative productivity analysis for European economies, Japan, the UK, and the U.S. using the EUKLEMS & INTANProd database — the first cross-country productivity database including all Corrado-Hulten-Sichel intangible assets in a national accounts-consistent framework. Using a stylized upstream/downstream production model, the article finds that including all intangibles lowers measured TFP growth (as…

Issue 46 features a three-article symposium on International Productivity Growth: The Role of Intangibles, using the new EUKLEMS & INTANProd database (30 countries, 7 tangible + 8 intangible asset types). Two additional articles address the recent decline in Canada’s GDP per capita (Smith) and how managerial quality shaped macroeconomic recovery from the Great Recession (Cette, Lopez,…