This article argues that the apparent divergence between US and European productivity stems entirely from idiosyncrasies in national price measurements. The impact of this is illustrated in the striking difference between current-price and constant-price GPD PPP time series.
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This article argues that the apparent divergence between US and European productivity stems entirely from idiosyncrasies in national price measurements. The impact of this is illustrated in the striking difference between current-price and constant-price GPD PPP time series.