Abstract
This paper analyses the development of labour productivity in Austria between 1964 and 1980, based on new national account statistics, classified by 19 industries. Three possible causes of the productivity slowdown after 1973 are investigated: (i) changes in the structure of the economy; (ii) reduction of duration of working time; and (iii) retardation of output growth in the recession after 1974. It was found, that all three factors contributed to the slowdown in the growth of output per man-year.
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