Growth accounting, potential output, and the current recession

Total factor productivity - a measure of the efficiency with which labor and capital are used - has fallen during the current recession. But, after adjustment for lower utilization of labor and capital, such productivity has risen strongly over the past two years. These growth-accounting measures suggest that efficiency gains have continued during the recession, boding well for long-term economic growth.

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Year of publication:	2009
Authors:	Fernald, John ; Matoba, Kyle
Published in:	FRBSF Economic Letter. - Federal Reserve Bank of San Francisco. - 2009, 26
Publisher:	Federal Reserve Bank of San Francisco
Subject:	Productivity \| Labor productivity \| Capital investments

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Extent:	text/html application/pdf
Type of publication:	Article
Language:	English
Source:	RePEc - Research Papers in Economics

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