Journal Article
Productivity gains during business cycles: what's normal?
Abstract: Labor productivity growth is generally acknowledged to be procyclical. The author reviews the leading explanations for this, then uses two approaches to compare the time pattern of productivity gains over the business cycle. One approach describes the pattern in terms of the number of quarters of growth since the cycle's trough; the other uses knowledge about the ends of past recoveries to describe the typical pattern of productivity gains as a cycle ages.
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Bibliographic Information
Provider: Federal Reserve Bank of Cleveland
Part of Series: Economic Commentary
Publication Date: 1998
Issue: Jul
Order Number: 1