The Keynesian Growth Approach to Macroeconomic Policy and Productivity
Productivity is one of the key determinants of potential output? that is, the trend level of
production consistent with stable inflation. A productivity growth slowdown has occurred in
several advanced economies in the aftermath of the global financial crisis, raising concerns
about long-term growth. In response, a variety of supply-side policy options have been
proposed, such as reforms to increase labor and product market flexibility. In this blog post,
we consider the role of demand-side policies in raising trend productivity growth.
production consistent with stable inflation. A productivity growth slowdown has occurred in
several advanced economies in the aftermath of the global financial crisis, raising concerns
about long-term growth. In response, a variety of supply-side policy options have been
proposed, such as reforms to increase labor and product market flexibility. In this blog post,
we consider the role of demand-side policies in raising trend productivity growth.
Productivity is one of the key determinants of potential output?that is, the trend level of production consistent with stable inflation. A productivity growth slowdown has occurred in several advanced economies in the aftermath of the global financial crisis, raising concerns about long-term growth. In response, a variety of supply-side policy options have been proposed, such as reforms to increase labor and product market flexibility. In this blog post, we consider the role of demand-side policies in raising trend productivity growth.
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