U.S. labor productivity initially surged in 2020 during the COVID-19 pandemic, despite the massive economic upheaval. As the economy recovered, the level of productivity retreated to its slow ...

Watch our Economic Letter video with Adam Shapiro, Vice President, Economic Research, to learn more about our measurements of ...

We study how changes in the composition of Chinese local government debt influenced bank risk taking, credit allocation, and local productivity. Using confidential loan-level data and a ...