values of the standard Solow productivity residual. The equivalence holds if the representative household maximizes utility …

) definition of aggregate productivity growth, which aggregates plant-level changes to changes in aggregate final demand in the … technologies, one for each 4-digit SIC code. On average we find positive aggregate productivity growth of 2.2% in this sector … for both the theoretical literature on growth and alternative indexes of aggregate productivity growth based only on …

summarized to a first order by the current and expected future values of the Solow productivity residual in level and by the …

We define aggregate productivity growth as the change in aggregate final demand minus the change in the aggregate cost … and sunk costs, and market power. We compare our measure of aggregate productivity growth to several competing variants … differ substantially from these measures of aggregate productivity growth. We illustrate this using panel data from …

Measured productivity growth increased substantially during the second half of the 1990s. This paper examines whether … productivity growth does appear to arise from an increase in technological change. Cyclical utilization raised measured … productivity growth relative to technology growth in the first part of the expansion, but lowered it subsequently. Factor …

Productivity rises in booms and falls in recessions. There are four main explanations for this procyclical productivity … procyclical productivity as an essential feature of business cycles because each explanation has important implications for … utilization and resource reallocations are particularly important in explaining procyclical productivity. We also argue that the …

Explanations of procyclical productivity play a key role in a variety of business-cycle models. Most of these models … aggregate productivity changes into several terms, each of which has an economic interpretation. However, many of these terms …

and capital are important for explaining procyclical productivity. Here I present two simple and direct tests of these …