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The European Union's remarkable growth performance relative to the United States
The EU has outperformed the US on per-capita output growth; in terms of output per hour worked, some EU countries are as productive as the US
There is considerable variation in the EU and US shares at current prices and exchange rates (left panel of Figure 1). It is also useful to keep in mind that since disposable income inequality is lower in the EU than in the US, the EU-US gap is likely smaller for those at low- and middle-income levels than the average for the whole population reported in Figure 5. Some western and northern EU countries are at least as productive as the US in terms of output per hours worked, but Europeans seem to prefer leisure time to income.
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