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We analyse the determinants of labour productivity across Euro Area’s member-states. We focus particularly on the divergent dynamics of core (or surplus) countries relative to peripheral (or deficit) countries. We ground our empirical analysis in Paolo Sylos-Labini’s theoretical framework, particularly on his productivity equations. Our preliminary findings confirm and strengthen Sylos-Labini’s main insights.

Sylos-Labini productivity equations; EA imbalances; technological change