Europe converged rapidly on the United States before stagnating

Eurozone output per head as a share of the US, 1945-2022

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Chart: Garicano, Holmström and PetitSource: Bergeaud, A., Cette, G. and Lecat, R. (2016): Productivity Trends in Advanced Countries between 1890 and 2022 Review of Income and Wealth. vol. 62(3), pages 420–444.