Measured productivity is strongly procyclical. Real business cycle theories suggest that actual fluctuations in … productivity are the source of fluctuations in aggregate output. Keynesian theories maintain that fluctuations in aggregate output … to explain the procyclicality of productivity. If observed productivity shocks are true productivity shocks, a function …

productivity in Canada. The North American Free Trade Agreement (NAFTA) and its predecessor, the Canada-U.S. Free Trade Agreement … productivity of Canadian industries, the persistence of structural differences between the two countries has prevented convergence … of aggregate labor productivity. While these findings seem to weigh against moving toward a monetary union, they also …

expenditures, innovation counts, and productivity figures. We find, among other things, the following: the pattern and nature of … in some sub-groups have had a greater impact on output and productivity than others and, moreover, the key players have … between technology shocks and employment, the role of technology in cross-country productivity differences, and the part …

managerial technology shock, output, productivity and hours significantly increase in the short run, second, these types of …

Procyclical productivity plays an important role in many models of aggregate fluctuations. However, recent studies … procyclicality of productivity observed in aggregate data may be understated. Using plant-level microdata, this paper finds that the … component in aggregate productivity. This paper shows that such composition changes may cause a downward bias in industry …