intra-sectoral effect (original) (raw)

In recent years, several studies have shown that the deterioration in the productivity of the European Union (EU15) relative to the United States (US) is one of the principal reasons explaining the stagnation in the per capita GDP of the EU15 relative to the US. Thus, the empirical evidence available ( [European Commission, 2004a] , [4] , [6] , [7] , [O'Mahony and Van Ark, 2003] , [Gordon, 2004] , [European Central Bank, 2004] , [Blanchard, 2004] , [Prescott, 2004] and [van Ark et al., 2007] ; among others) shows that the EU15's process of convergence to the ...