Why Europe’s productiveness is falling behind the US | EUROtoday

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The French economist Antonio Bergeaud has offered an attention-grabbing working paper that was mentioned on Wednesday on the ECB Forum in Sintra, Portugal: He investigated the query of why the USA has left Europe to this point behind when it comes to productiveness. The growth is hanging: after an extended interval of comparable productiveness positive aspects after the Second World War, Europe has fallen considerably behind, and just lately this has grow to be much more extreme. ECB Executive Board member Isabel Schnabel speaks of a “crisis of competitiveness” within the eurozone, and former ECB President Mario Draghi additionally devotes a whole lot of consideration to this decline in productiveness in his competitiveness report for the European Union.