The authors analyze employment growth in the metropolitan region and its relationship to employment in the United States as a whole. They identify a strong cyclical link between the region and the nation, punctuated by occasional, persistent shifts in the region's underlying growth rate. Some...

This paper investigates whether procyclical productivity is due to cyclical variations in the rate of utilization of labor or to technological externalities. By looking at the relation between sectoral productivity and the level of aggregate activity, empirical evidence is presented to...