Haltiwanger, John C.; Hyatt, Henry R.; McEntarfer, Erika; … - National Bureau of Economic Research - 2021
Do recessions speed up or impede productivity-enhancing reallocation? To investigate this question, we use U.S. linked … employer-employee data to examine how worker flows contribute to productivity growth over the business cycle. We find that in … expansions high-productivity firms grow faster primarily by hiring workers away from lower-productivity firms. The rate at which …