basic questions within that model. We review the empirical literature through the lens of the theory, using the theory to …

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 …

how offshore profit shifting by U.S. multinational enterprises affects GDP and, thus, productivity measurement. Under …Official statistics display a significant slowdown in U.S. aggregate productivity growth that begins in 2004. We show … measures of U.S. aggregate productivity growth. We construct an alternative measure of value added that adjusts for profit …

Typically measures of multifactor productivity growth have been based on a production and optimization framework that … utilization indexes, and on the adjustment of observed productivity measures for the effects of short run fixity characterized by … capacity utilization adjustments for productivity growth measures. The resulting framework is then used to identify empirically …

Although a great deal of empirical research on productivity measuremant has taken place in the last decade, one issue … remaining particudarly controversial and deaisive is the manner by which one adjusts the productivity residual for variations in … that for the U.S. manufacturing sector, we can attribute about 50% of the traditionally measured decline in productivity …

standard productivity measures. TFPQ performs poorly because of variation in product specifications across firms. Controlling … for specifications aligns TFPQ with lab benchmarks. We also collect quality metrics to construct quality productivity (the …-dimensional productivity, or capability. As quality productivity is negatively correlated with TFPQ, TFPR may perform better at capturing …

This paper presents a new approach to assess the role of price mismeasurement in the productivity slowdown. I invert … the firm's investment decision to identify the embodied and disembodied components of productivity growth. With a Cobb … that in the Post-War period, disembodied productivity grew faster in the hard-to-measure than in the non-manufacturing easy …

The present study is a contribution to the theory of the measurement of productivity growth. First, it examines the … welfare-theoretic basis for measuring productivity growth and shows that the ideal welfare-theoretic measure is a chain index … of productivity growth rates of different sectors which uses current output weights. Second, it lays out a technique for …

aggregate productivity. TFP gaps are characterized as the integral of a strictly concave function with respect to an employment … productivity is shown to be ambiguous; conditions are given to determine its sign. An empirical lower bound on distortions based on … for distortions to explain large TFP gaps. The effect of curvature on the impact and measurement of distortions is also …