The paper shows that the assessment of the speed of productivity growth crucially depends on how one chooses to measure value added. According to a widely held view, the growth rate of labour productivity has increased significantly in the U.S. since the mid-90s. The U.S. is perceived to outperform most European countries in this respect by a wide margin. Comparing the U.S. with Switzerland, we show this view to rely - at least in part - on statistical artefacts.
© 2006 by Lucius & Lucius, Stuttgart