What Caused the Recession of 2008? Hints from Labor Productivity
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A labor market tautology says that any change in labor usage can be decomposed into a movement along a marginal productivity schedule and a shift of the schedule. I calculate this decomposition for the recession of 2008, assuming an aggregate Cobb-Douglas marginal productivity schedule, and find
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美国国家经济研究局创建时间：
2009-02-01
