Publicação

To what extent is low interest rate environment driving labour productivity divergence between Euro Area countries?

Detalhes bibliográficos
Resumo:	This paper studies the labour productivity divergence in the Euro Area by scrutinizing the link between the low interest rate environment, the widening productivity gap between periph-ery and core countries and the lower growth of the Monetary Union. It makes use of firm-level data to apply a mechanism rooted in the dynamic competition literature and to assess to what extent an unequal distribution of frontier and non-frontier firms across the Euro zone might be the reason why Southern countries are still lagging behind. The evidence presented suggests that low long-term interest rates might be enlarging their distance to the Euro frontier.
Autores principais:	Figueiras, Isabel Da Silva
Assunto:	Productivity Interest rate Euro Area Divergence
Ano:	2020
País:	Portugal
Tipo de documento:	dissertação de mestrado
Tipo de acesso:	acesso aberto
Instituição associada:	Universidade Nova de Lisboa
Idioma:	inglês
Origem:	Repositório Institucional da UNL

Descrição
Resumo:	This paper studies the labour productivity divergence in the Euro Area by scrutinizing the link between the low interest rate environment, the widening productivity gap between periph-ery and core countries and the lower growth of the Monetary Union. It makes use of firm-level data to apply a mechanism rooted in the dynamic competition literature and to assess to what extent an unequal distribution of frontier and non-frontier firms across the Euro zone might be the reason why Southern countries are still lagging behind. The evidence presented suggests that low long-term interest rates might be enlarging their distance to the Euro frontier.