variance of its components, which is then applied to measure the relative contributions of productivity, hours per worker, and … employment to cyclical output growth across a panel of countries. Measured productivity contributes more to the cycle in Europe … cyclical employment fluctuations. -- Intensive margin ; extensive margin ; productivity ; business cycles ; variance …

Ten years ago, the global financial crisis started to unwind in the USA and triggered the greatest recession since … World War II. Although the crisis of 2007-08 was caused in the USA, their economy was not hit so hard in the Great Recession … of 2009 as in Europe, and in particular in the Euro area. The USA also recovered more rapidly and sustained from the …