Productivity and Potential Output Before, During, and After the Great Recession: “U.S. labor and total-factor productivity growth… …slowed prior to the Great Recession. The timing rules out explanations that focus on disruptions during or since the recession, and industry and state data rule out “bubble economy” stories related to housing or finance. The slowdown is … Continue reading Afternoon Must-Read: John Fernald: Productivity and Potential Output Before, During, and After the Great Recession