"Arbeitsangebot." . . "Welt." . . "2000 - 2099" . . . . . . . . "What caused the recession of 2008? hints from labor productivity" . "What caused the recession of 2008? hints from labor productivity"@en . . . . . . . "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 productivity schedule, and find that all of the decline in employment and hours since December 2007 is a movement along the schedule. This finding suggests that a reduction in labor supply and/or an increase in labor market distortions are major factors in the 2008 recession. The decline in aggregate consumption suggests that the reduction in labor supply (if any) is neither a wealth nor an intertemporal substitution effect. \"Sticky real wages\" or the emergence of significant work disincentives are possible explanations for these findings." . "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 productivity schedule, and find that all of the decline in employment and hours since December 2007 is a movement along the schedule. This finding suggests that a reduction in labor supply and/or an increase in labor market distortions are major factors in the 2008 recession. The decline in aggregate consumption suggests that the reduction in labor supply (if any) is neither a wealth nor an intertemporal substitution effect. \"Sticky real wages\" or the emergence of significant work disincentives are possible explanations for these findings."@en . . . . . "What Caused the Recession of 2008? Hints from Labor Productivity" . "What Caused the Recession of 2008? Hints from Labor Productivity"@en . . . "What Caused the Recession of 2008? : Hints from Labor Productivity" . . "What caused the recession of 2008? : hints from labor productivity" . . "History"@en . . "What caused the recession of 2008? : hints from labor productivity"@en . "History" . . . . . . . "Arbeitsproduktivität." . . "Lohnrigidität." . . "Wirtschaftskrise." . . "Reallohn." . .