productivity" channel. The relative price channel results from changes in the relative prices of aggregates, such as investment vis …-a-vis consumption goods, which occurs in a sectoral model in response to even standard aggregate shocks. The relative productivity … reasonable parameterizations, the relative productivity channel causes aggregate productivity to vary procyclically in response …

of other issues that are less well understood, and where further research could be valuable. …

productivity growth. We show that the data imply that households are not willing to substitute between the two goods at all and …

This paper makes four points about the recent dynamics of productivity and potential output. First, after accelerating … in the mid-1990s, labor and total-factor productivity growth slowed after the early to mid 2000s. This slowdown preceded … the Great Recession. Second, in contrast to some informal commentary, productivity performance during the Great Recession …

and productivity. A model with monopolistic competition, a continuum-of-goods, and endogenous tradability allows for … theory and history to be consistent for a wide range of underlying productivity shocks. …

, including capital, are used to produce a quarterly series on total factor productivity (TFP). In addition, the dataset …

U.S. labor and total-factor productivity growth slowed prior to the Great Recession. The timing rules explanations that …, consistent with a return to normal productivity growth after nearly a decade of exceptional IT-fueled gains. A calibrated growth … model suggests trend productivity growth has returned close to its 1973-1995 pace. Slower underlying productivity growth …

This paper explores the relationship between capital composition and productivity using a unique and remarkably …’ productivity. The implied marginal products are derived and compared to official data on rental prices; substantial differences …