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 …

- makes the extent of procyclical productivity depend mainly on the extent of labor hoarding. We show that indeed, whether … productivity is measured via the Solow method using labor's share in revenues or using other methods, it tends to be more …

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 …

productivity. Those changes are reflected in both conditional and unconditional second moments as well as in the impulse responses … response of labor productivity to those shocks. That evidence suggests a more complex picture than that associated with "good …

During the four years 1995-99 U. S. productivity growth experienced a strong revival and achieved growth rates … transport, motion pictures, radio, indoor plumbing, and made the golden age of productivity growth possible. This paper raises … doubts about the validity of this comparison with the Great Inventions of the past. It dissects the recent productivity …

-open-economy real-business-cycle model driven by nonstationary productivity shocks. We find that the RBC model does a poor job at … business cycles in emerging markets and, importantly, assigns a negligible role to nonstationary productivity shocks …

their claim that part of the post-1995 productivity growth revival reflected the normal cyclical correlation between … productivity and output growth. In contrast data through mid-2003 reveal only a negligible cyclical effect for 1995-99 but rather a … temporary bubble in 2002-03. (2) Why did productivity growth accelerate after 2000 when the ICT investment boom was collapsing …

through its effect on productivity: the entry and exit of firms and the reallocation of resources from less to more efficient … firms explain a relevant part of transitional productivity dynamics. In this paper we use a stochastic general equilibrium …