In this paper we argue that the deceleration of labor productivity is at the root of the slowdown of the European economic growth over the last fifteen years. Using a simple dynamic model of the labor market, we show that this poor performance can only be accounted for by a combination of two...

This paper studies the dynamic and stochastic properties of fixed investments (IL) for five Italian sectors and for the period 1930-1991. Moreover, it analyses the relationship between the trend and cyclical innovations of IL and between these two types of innovations with those of GDP, real...