in aggregate demand, unemployment rate, real wage and labour productivity, which captures key components of the labour … model to identify four structural innovations: aggregate demand, labour supply, wage bargaining, and productivity; (iii …) quantifies the dynamic responses of the labour share to each structural shock; (iv) compares these results across the two periods …

We identify the main shock driving fluctuations in long‐horizon productivity expectations, consistent with theories of … TFP news. The identified shock induces strong comovement patterns in output, consumption, investment, employment, and … news shock. The model also matches the empirical patterns of vacancies, labor force participation, hours, and job …

Labor productivity (LP) in the United States has gone from being procyclical to acyclical since the mid-1980s. Using … industry-level data, this paper first shows that total factor productivity (TFP), which is LP net of capital deepening, has … reasons for the change in the cyclicality of productivity. By decomposing TFP into technical change and input utilization, it …

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 … industries shows that sectoral productivity is more closely related to the rate of change of aggregate activity than to its level …

We describe new experimental productivity statistics, Dispersion Statistics on Productivity (DiSP), jointly developed … and published by the Bureau of Labor Statistics (BLS) and the Census Bureau. Official BLS productivity statistics provide … information on aggregate productivity growth. Yet, a large body of research shows that within-industry variation in productivity …

Which structural reforms affect labour productivity growth in developing countries? This paper answers this question by … that financial reforms, trade reforms, and product market reforms boost labour productivity growth. By documenting the main … channels, our results reveal that the reforms studied stimulate labour productivity growth by inducing dynamic efficiency …

aggregate hours worked respond positively to a positive technology shock. Two novel aspects of the analysis are the scope (14 … hours. We show that the short-run response of aggregate hours to a positive technology shock is remarkably similar across …

labor productivity shock has a strong negative effect on employment. There are tantalizing and interesting differences … employment increase in response to a permanent TFP shock. This raises serious questions about existing work that finds that a … between TFP and labor productivity. We argue that TFP is a more natural measure of technology because labor productivity …

Conditional on a contractionary monetary policy shock, the labor share of value added is expected to decrease in the … projections and high dimensional fixed effects, we show that a one standard deviation contractionary monetary policy shock …