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 …

Study of the impact of mergers and acquisitions (M&As) on productivity and market power has been complicated by the … difficulty of separating these two effects. We use newly-developed techniques to separately estimate productivity and markups …-level productivity. We also examine whether M&As increase efficiency through reallocation of production to more efficient plants or …

reallocation depends on (a) the dispersion of idiosyncratic productivity shocks faced by businesses and (b) the marginal … marginal responsiveness of employment growth to business-level productivity has weakened. The responsiveness in the post-2000 … in the 1990s. Counterfactuals show that weakening productivity responsiveness since 2000 accounts for a significant drag …