期刊名称：Euro Area Balance of Payments and International Investment Position Statistics
印刷版ISSN：1830-3420
电子版ISSN：1830-3439
出版年度：2021
卷号：2021
语种：English
出版社：European Central Bank
摘要：Productivity, defined broadly as efficiency in production, plays a key role in the economic resilience and social welfare of countries. [1] Productivity growth influences the economy in important ways, affecting key variables such as output, employment and wages. Productivity is also relevant for monetary policy as it is a fundamental determinant of potential output growth and the natural rate of interest and, therefore, of the monetary policy space needed to deliver price stability over the medium term. As such, changes in productivity can influence the transmission mechanism of monetary policy and should be closely monitored.
