The driving force of labor productivity
General Finance
2008-12-02 v1 Physics and Society
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
Cite
@article{arxiv.0811.2124,
title = {The driving force of labor productivity},
author = {Ivan O. Kitov and Oleg I. kitov},
journal= {arXiv preprint arXiv:0811.2124},
year = {2008}
}
Comments
pages 20, figures 12