We explore the possibility that the US strong productivity gains stem from a surge in Intellectual Property investment since the middle of the last decade, which the Euro area has completely missed. The data needs to be taken with prudence, but it is possible that monetary policy transmission has been slower in the US than in the Euro area.
Om dit artikel te lezen heeft u een abonnement op Investment Officer nodig. Heeft u nog geen abonnement, klik op "Abonneren" voor de verschillende abonnementsregelingen.
