caa a22 4500 463158369 CHVBK 20180406164740.0 cr unu---uuuuu 170326e20070401xx s 000 0 eng 10.1007/s10258-006-0017-2 doi (NATIONALLICENCE)springer-10.1007/s10258-006-0017-2 Cavalcanti Tiago Departamento de Economia, Universidade Federal de Pernambuco, and INOVA, Universidade NOVA de Lisboa, Pernambuco, Brasil aut Business cycle and level accounting: the case of Portugal [Elektronische Daten] [Tiago Cavalcanti] This paper studies what accounts for the recent business cycles phenomena in Portugal and why it is depressed relatively to the United States. The business accounting procedure applied here suggests that most of the changes in output per worker in Portugal over the period (mainly, from 1979 to 1991) can be attributed to changes in economic efficiency. For instance, the strong economic recovery in output per worker just after Portugal joined the European Union until the first years of the 1990s can be essentially attributed to improvements in economic efficiency. From 1979 to 2000, Portugal caught up with the industrial leader. Its output per worker is currently depressed by about 46% relative to the United States level (it was depressed by 57% in 1979). In the 1980s all of this depression in output per worker relative to the United States was due to the productivity factor. By 2000 Portugal depression relative to the United States was a mix of the French and Japanese depression. The labor factor accounted for roughly 24% of this depression, while the economic efficiency accounted by about 89%. Springer-Verlag, 2007 Depression nationallicence Business cycles nationallicence Development nationallicence Portuguese Economic Journal Springer-Verlag 6/1(2007-04-01), 47-64 1617-982X 6:1<47 2007 6 10258 https://doi.org/10.1007/s10258-006-0017-2 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/s10258-006-0017-2 text/html Onlinezugriff via DOI NATIONALLICENCE 100 1- Cavalcanti Tiago Departamento de Economia, Universidade Federal de Pernambuco, and INOVA, Universidade NOVA de Lisboa, Pernambuco, Brasil aut NATIONALLICENCE 773 0- Portuguese Economic Journal Springer-Verlag 6/1(2007-04-01), 47-64 1617-982X 6:1<47 2007 6 10258 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer