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A flexible finite-horizon alternative to long-run restrictions with an application to technology shocks

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Does the United States have a productivity slowdown or a measurement problem

Byrne, David; Fernald, John G.; Reinsdorf, Marshall B. - 2016

After 2004, measured growth in labor productivity and total-factor productivity (TFP) slowed. We find little evidence … quantitative effect on productivity was larger in the 1995-2004 period than since, despite mismeasurement worsening for some types … of IT -- so our adjustments make the slowdown in labor productivity worse. The effect on TFP is more muted. Second, many …

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