Empirical Analysis of the Interconnection between Structural Changes and Labour Productivity
The paper discusses the change of the influence of certain branches and branch changes on the economic growth, particularly the labor productivity observed in the last few decades. As a result the processing industry is replaced by the service sector, which gradually becomes dominating since 1970s. For this purpose it is proved with the results of a long-lasting work of the Groningen Growth and Development Centre (The Netherlands) concerning countries from European Union and USA in the second half of 20th century – mainly in 1980s and 1990s and until the middle of the first decade of 21st century. The achieved results give reasons for a change of the existing stylized facts formulated by N. Kaldor (1967), S. Kuznets (1971) and A. Maddison (1980).
EU KLEMS Growth and Productivity Accounts: An Overview
In March 2007, the EU KLEMS Growth and Productivity Accounts were publicly released. These accounts include measures of output growth, employment and skill creation, capital formation and multifactor productivity (MFP) at the industry level for European Union member states from 1970 onwards. This overview paper first discusses the key characteristics of the database and the variables, country and industry coverage, then reviews the growth accounting methodology, including the measurement of labour and capital services, and finally provides a brief analysis of major trends. The first release of the EU KLEMS database confirms the view that European countries showed a significant slowdown in productivity growth since 1995, which is shown to be widespread across countries and industries, but with notable differences.
The General Theory of Relativity
THE WORD “SPECIAL” IN “SPECIAL THEORY OF RELATIVITY” means that the theory is restricted to those frames of reference for which the law of inertia holds, that is, inertial frames of reference.* Einstein sometimes referred to them as Galilean frames of reference. At first glance, it does not seem reasonable to expect that the principle of relativity can be extended to non-inertial frames. The reasons are fairly obvious. The principle of relativity that we have been using states that the laws of physics have the same form in all frames of reference to which the principle applies. In other words there should be no way to determine by an experiment which of two frames of reference is in motion relative to the other.