HU, Weiwei; Li, Kai; Xu, Yiming - 2022
productivity. Such overestimation can be decomposed into two distinct channels: one is from the mismeasured factor share, and the … aggregate productivity is large, growing over time, and exhibits strong countercyclicality. This implies that recessions are … more severe than previously thought, in the sense that the lease-adjusted productivity drops more. In the cross …