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The high pace of reallocation across producers is pervasive in the U.S. economy. Evidence shows
this high pace of reallocation is closely linked to productivity. While these patterns hold on average,...
Disentangling the Channels of the 2007–09 Recession
Disentangling the Channels of the 2007–09 Recession
2014/3/18
This paper examines the macroeconomic dynamics of the 2007–09 recession in the United States and the subsequent slow recovery. Using a dynamic factor model with 200 variables, we reach three main conc...