MPC Member Publications

This database contains a listing of population studies publications written by MPC Members. Anyone can add a publication by an MPC student, faculty, or staff member to this database; new citations will be reviewed and approved by MPC administrators.

Full Citation

Title: The Labor Productivity Puzzle

Citation Type: Working Paper

Publication Year: 2012

Abstract: Prior to the mid-1980s, labor productivity growth was a useful barometer of the U.S. economys performance:it was low during economic recessions and high during expansions. Since then, labor productivityhas become significantly less procyclical. In the recent recession of 20082009, labor productivity actuallyrose as GDP plummeted. These facts have motivated the development of new business cycle theoriesbecause the conventional view is that they are inconsistent with existing business cycle theory. In thispaper, we analyze recent events with existing theory and find that the labor productivity puzzle is muchless of a puzzle than previously thought. In light of these findings, we argue that policy agendas arisingfrom new untested theories should be disregarded.

User Submitted?: No

Authors: Prescott, Edward C; McGrattan, Ellen R

Series Title:

Publication Number: 694

Institution:

Pages: 44-87

Publisher Location: Minneapolis, MN

Countries:

IPUMS NHGIS NAPP IHIS ATUS Terrapop