Why Is Productivity Procyclical? Why Do We Care?
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Productivity rises in booms and falls in recessions. There are four main explanations for this procyclical productivity: (i) procyclical technology shocks, (ii) widespread imperfect competition and increasing returns, (iii) variable utilization of inputs over the cycle, and (iv) resource
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美国国家经济研究局创建时间：
2000-10-01
