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Productivity and Potential Output Before, During, and after the Great Recession

Fernald, John G. - 2014

U.S. labor and total-factor productivity growth slowed prior to the Great Recession. The timing rules out explanations … intensively, consistent with a return to normal productivity growth after nearly a decade of exceptional IT-fueled gains. A … calibrated growth model suggests trend productivity growth has returned close to its 1973-1995 pace. Slower underlying …

Persistent link: https://www.econbiz.de/10013052125

Long-Term Damage from the Great Recession in OECD Countries

Ball, Laurence M. - 2014

This paper estimates the long-term effects of the global recession of 2008-2009 on output in 23 countries. I measure these effects by comparing current estimates of potential output from the OECD and IMF to the path that potential was following in 2007, according to estimates at the time. The...

Persistent link: https://www.econbiz.de/10013053146

Do Household Wealth Shocks Affect Productivity? Evidence from Innovative Workers During the Great Recession

Bernstein, Shai - 2017

We investigate how the deterioration of household balance sheets affects worker productivity, and whether such effects …

Persistent link: https://www.econbiz.de/10012943613

Rising Labor Productivity During the 2008-9 Recession

Mulligan, Casey B. - 2011

the productivity and wage increase can be attributed to changing quality of the workforce. The rest of the increase …

Persistent link: https://www.econbiz.de/10013118424

Growth, Slowdowns, and Recoveries

Bianchi, Francesco - 2014

endogenous relation between productivity growth and the state of the economy. A large contractionary shock to equity financing in …

Persistent link: https://www.econbiz.de/10013040420

Managing Volatility and Crises : A Practitioner'S Guide Overview

Aizenman, Joshua; Pinto, Brian - 2021

This overview introduces and summarizes the findings of a practical volume on managing volatility and crises. The interest in these topics stems from the growing recognition that non-linearities tend to magnify the impact of economic volatility leading to large output and economic growth costs,...

Persistent link: https://www.econbiz.de/10013222946

The Collapse of International Trade During the 2008-2009 Crisis : In Search of the Smoking Gun

Levchenko, Andrei A. - 2010

One of the most striking aspects of the recent recession is the collapse in international trade. This paper uses disaggregated data on U.S. imports and exports to shed light on the anatomy of this collapse. We find that the recent reduction in trade relative to overall economic activity is far...

Persistent link: https://www.econbiz.de/10013143182

Deep Recessions, Fast Recoveries, and Financial Crises : Evidence from the American Record

Bordo, Michael D. - 2012

Do steep recoveries follow deep recessions? Does it matter if a credit crunch or banking panic accompanies the recession? Moreover does it matter if the recession is associated with a housing bust? We look at the American historical experience in an attempt to answer these questions. The answers...

Persistent link: https://www.econbiz.de/10013104399

Recovery from Financial Crises : Evidence from 100 Episodes

Reinhart, Carmen M. - 2014

We examine the evolution of real per capita GDP around 100 systemic banking crises. Part of the costs of these crises owes to the protracted nature of recovery. On average, it takes about eight years to reach the pre-crisis level of income; the median is about 6 1⁄2 years. Five to six years...

Persistent link: https://www.econbiz.de/10013060679

A New Interpretation of Productivity Growth Dynamics in the Pre-Pandemic and Pandemic Era U.S. Economy, 1950-2022

Gordon, Robert J.; Sayed, Hassan - 2022

The dismal decade of 2010-19 recorded the slowest productivity growth of any decade in U.S. history, only 1.1 percent … per year in the business sector. Yet the pandemic appears to have created a resurgence in productivity growth with a 4 ….1 percent rate achieved in the four quarters of 2020. This paper provides a unified framework that explains productivity growth …

Persistent link: https://www.econbiz.de/10014080444