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Productivity gains during business cycles: what's normal?

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  • Mark E. Schweitzer

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.

Suggested Citation

  • Mark E. Schweitzer, 1998. "Productivity gains during business cycles: what's normal?," Economic Commentary, Federal Reserve Bank of Cleveland, issue Jul.
    • Handle: RePEc:fip:fedcec:y:1998:i:jul
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    Keywords

    Labor productivity; Business cycles;

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