A large literature documents declining measures of business dynamism including high-growth young firm activity and job reallocation. A distinct literature describes a slowdown in the pace of aggregate labor productivity growth. We relate these patterns by studying changes in productivity growth from the late 1990s to the mid 2000s using firm-level data. We find that diminished allocative effici...

The structure of U.S. agricultural production changed dramatically during the 20 Century. Major technological innovations transformed the relationship between agricultural inputs and outputs, and contributed to rapid increases in agricultural productivity. However, evidence is mounting that suggests we have entered a new era, with substantially lower rates of productivity growth. In this articl...

I am pleased to be talking about one of the truly salient issues for the economy today to such a distinguished audience. The acceleration in productivity growth since the mid-1990s has been an exceptionally important development for the U.S. economy. My remarks are going to run somewhat contrary to the view that information technology has been the overwhelming impetus to the acceleration in pro...

The paper by Saul Eslake provides a thorough discussion of issues relating to productivity growth in Australia over the 2000s. Following a brief discussion of why productivity is important, the paper provides evidence of a fairly broad-based slowing in multifactor productivity growth across a range of countries over the 2000s, but argues that this slowing has been more pronounced in Australia. ...