The acceleration of productivity since 1995 has prompted a debate over whether the economy's underlying growth rate … identify variables other than productivity - namely consumption and labor compensation - to help estimate trend productivity … direction. In addition, we find that productivity data alone provide insufficient evidence of regime changes; corroborating …

negative and thus offer arbitrage opportunities. …

, informed investors, and noise traders. Arbitrageurs face a trade-off between arbitrage and inference: they would like to buy … assets in response to temporary price declines (the arbitrage effect) but sell when prices decline permanently (the inference … effect). In equilibrium, the presence of arbitrageurs increases volatility when the inference effect dominates the arbitrage …

Economists, business analysts, and policymakers have all focused considerable attention on U.S. productivity growth in … recent years. This paper presents a broad overview of productivity--both labor and total factor--and discusses why it is such … an important topic. We begin with the official U.S. productivity statistics prepared by the U.S. Bureau of Labor …