U.S. labor and total-factor productivity growth slowed prior to the Great Recession. The timing rules out explanations … intensively, 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 …

A longstanding puzzle of empirical economics is that average labor productivity declines during recessions and … explaining the observed procyclicality. For each competing hypothesis we derive the implications for cyclical productivity … heterogeneity in long-run structural changes across individual plants to identify the short-run sources of procyclical productivity …

We investigate how the deterioration of household balance sheets affects worker productivity, and whether such effects …

reallocation is closely linked to productivity. While these patterns hold on average, the extent to which the reallocation dynamics … accelerated reallocation even more productivity enhancing than reallocation in normal times. In the Great Recession, we find the … intensity of reallocation fell rather than rose and the reallocation that did occur was less productivity enhancing than in …

Increases in oil prices have been held responsible for recessions, periods of excessive inflation, reduced productivity …