Ausschnitte aus dem dritten Panel der Veranstaltungsreihe.

The digital transformation creates scope to make workflows and production processes more efficient. To quantify the impact of digital transformation on labour productivity, research often focuses on investments in digital technologies. This perspective neglects the fact that digital intermediate inputs, such as microchips or integrated software, also represent an important transmission channel for the efficiency gains from digitalisation. In a new study, Bundesbank researchers have examined how efficiency gains in the digital sectors have affected labour productivity in Germany, France and the United States.

The Bundesbank and Banque de France Spring Conference on monetary policy and the expectations of households and firms toke place on 23 and 24 June. The event was centred around speeches by French central bank governor François Villeroy de Galhau and Bundesbank President Joachim Nagel.