| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w23543 |
| 来源ID | Working Paper 23543 |
| The Disappointing Recovery of Output after 2009 | |
| John G. Fernald; Robert E. Hall; James H. Stock; Mark W. Watson | |
| 发表日期 | 2017-06-26 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | U.S. output has expanded only slowly since the recession trough in 2009, even though the unemployment rate has essentially returned to a pre-crisis, normal level. We use a growth-accounting decomposition to explore explanations for the output shortfall, giving full treatment to cyclical effects that, given the depth of the recession, should have implied unusually fast growth. We find that the growth shortfall has almost entirely reflected two factors: the slow growth of total factor productivity, and the decline in labor force participation. Both factors reflect powerful adverse forces that are largely unrelated to the financial crisis and recession—and that were in play before the recession. |
| 主题 | Macroeconomics ; Consumption and Investment ; Business Cycles ; Labor Economics ; Labor Supply and Demand |
| URL | https://www.nber.org/papers/w23543 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/581217 |
| 推荐引用方式 GB/T 7714 | John G. Fernald,Robert E. Hall,James H. Stock,et al. The Disappointing Recovery of Output after 2009. 2017. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w23543.pdf（650KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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