What Caused the Recession of 2008? Hints from Labor Productivity

Preprint OPEN
Casey Mulligan;
(2009)
  • Subject:
    • jel: jel:E32 | jel:E24 | jel:J22

A labor market tautology says that any change in labor usage can be decomposed into a movement along a marginal productivity schedule and a shift of the schedule. I calculate this decomposition for the recession of 2008, assuming an aggregate Cobb-Douglas marginal produ... View more
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