From: Real unit labour costs in Eurozone countries: drivers and clusters
Simulations | Changes explained by: | % Growth drivers* | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
S1 | S4 | S7 | w t | (1− α t ) K t | A t | ||||||
(A) | (B) | (C) | (A-100) | (B-A) | (C-B) | \(\frac{\mathbf{(B-A)}}{\mathbf{(A-C)}}\) | \(\frac{\mathbf{(C-B)}}{\mathbf{(A-C)}}\) | ||||
Capital-intensity driven gains in RULCs | |||||||||||
Greece | 104.7 | 80.3 | 79.7 | 4.7 | -24.4 | -0.7 | 97.4 | 2.6 | |||
Italy | 122.7 | 97.8 | 83.5 | 22.7 | -25.0 | -14.3 | 63.6 | 36.4 | |||
Portugal | 169.5 | 109.4 | 79.3 | 69.5 | -60.1 | -30.1 | 66.7 | 33.3 | |||
Spain | 128.3 | 91.7 | 78.1 | 28.3 | -36.6 | -13.6 | 73.0 | 27.0 | |||
Technology driven gains in RULCs | |||||||||||
Belgium | 148.3 | 125.8 | 96.9 | 48.3 | -22.4 | -28.9 | 43.7 | 56.3 | |||
Finland | 182.3 | 151.6 | 93.2 | 82.3 | -30.7 | -58.3 | 34.5 | 65.5 | |||
Ireland | 197.2 | 142.5 | 73.6 | 97.2 | -54.7 | -68.9 | 44.3 | 55.7 | |||
Netherlands | 136.3 | 118.0 | 88.3 | 36.3 | -18.3 | -29.7 | 38.2 | 61.8 | |||
Sweden | 153.9 | 124.6 | 82.8 | 53.9 | -29.3 | -41.7 | 41.2 | 58.8 | |||
Balanced driven gains in RULCs | |||||||||||
Austria | 152.4 | 117.6 | 87.4 | 52.4 | -34.8 | -30.2 | 53.5 | 46.5 | |||
France | 137.9 | 109.0 | 88.3 | 37.9 | -29.0 | -20.6 | 58.4 | 41.6 |