This paper shows how misleading is the facile contrast of Europe following a path of high productivity growth, high … shocks may initially create a positive trade-off between productivity and unemployment, they set in motion a dynamic path of … contributions of this paper are to show how a productivity-unemployment trade-off might emerge and how it might subsequently …

Team production is a frequent feature of modern organizations. Combined with team incentives, team production can … therefore on their colleagues’ productivity. We study the effects of such externalities in a competitive labor market if workers … have private information on their productivity. We find that in any competitive equilibrium there must be Pareto …

This Paper studies the inter-temporal problem of a monopolistic firm that engages in productivity-enhancing innovations … to reduce its labour costs. If the level of wages is sufficiently low, the firm's rate of productivity growth approaches … time. Otherwise, it will gradually reduce its innovation effort over time and ultimately terminate production. Productivity …

-equilibrium model with endogenous productivity growth. For real wage growth above laissez-faire levels, we obtain steady …-state equilibria in which productivity grows at the same rate as wages, the real interest rate is below the laissez-faire level, and so … constant rate equal to the difference between the growth rates of productivity and output. This contrasts with the view that …

Our model studies the evolution of productivity growth in a competitive industry. The exogenous wage rate determines … the firms' engagement in labour productivity enhancing process innovation. There is a unique steady state of the industry …

incentives to engage in labour-saving technical change. A steady rise in the capital-labour ratio affects the relative scarcity …

Throughout the post-war era until 1995 labour productivity grew faster in Europe than in the United States. Since 1995 …, productivity growth in the EU-15 has slowed while that in the United States has accelerated. But Europe’s productivity growth … between the EU and US going back to 1980. This paper is about the strong negative trade-off between productivity and …

tasks. We analyze the effects of the salience of incentives in a team production setting where the principal has an interest … incentive system without changing the incentive system. The results indicate that salience of incentives itself is statistically … and economically important for performance. We find that higher salience of incentives for quantity increases quantity …