The acceleration of productivity since 1995 has prompted a debate over whether the economy's underlying growth rate … identify variables other than productivity - namely consumption and labor compensation - to help estimate trend productivity … direction. In addition, we find that productivity data alone provide insufficient evidence of regime changes; corroborating …

productivity growth in the nonhousing sector and shows that such regime switches are a plausible candidate for explaining - both … governs the relationship between productivity growth and home price appreciation. Combined with a realistic model of learning … about the productivity process, the model is able to capture the medium- and low-frequency fluctuations of both price and …