The Driving Force of Labor Productivity

descriptionPublicationkeyboard_double_arrow_right Article , Preprint , Other literature type 01 Jan 2008Embargo end date: 01 Nov 2008 English Publisher:Elsevier BVJournal:SSRN Electronic Journal (eissn: 1556-5068,

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Authors: Kitov, Ivan; Kitov, Oleg;

doi: 10.2139/ssrn.1137849 , 10.48550/arxiv.0811.2124

arXiv: 0811.2124

The Driving Force of Labor Productivity

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Abstract

Labor productivity in developed countries is analyzed and modeled. Modeling is based on our previous finding that the rate of labor force participation is a unique function of GDP per capita. Therefore, labor productivity is fully determined by the rate of economic growth, and thus, is a secondary economic variable. Initially, we assess a model for the U.S. and then test it using data for Japan, France, the UK, Italy, and Canada. Results obtained for these countries validate those for the U.S. The evolution of labor force productivity is predictable at least at an 11-year horizon

pages 20, figures 12

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Keywords

productivity, labor force, real GDP, prediction, modeling, FOS: Economics and business, Physics - Physics and Society, FOS: Physical sciences, Physics and Society (physics.soc-ph), Quantitative Finance - General Finance, General Finance (q-fin.GN), jel: jel:J2, jel: jel:O4

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