Chart 3: Trends in working age population Percentage of population aged between 15 and 64  Source: World Bank. BIS Review 139/2010  7  Chart 4: Developments in R&D expenditure Public expenditure on R&D as % of GDP  Source: World Bank. Note: For Italy and Brazil the latest available data point is 2006.
As those factors dissipate, labor productivity growth should move up to 1-1/2 percent or so, the lower end of its longer-run range. In addition to productivity, the other principal factor in potential output is labor supply, which is determined by the working-age population, the natural rate of unemployment, and the trend labor force participation rate.