Trend Growth Reconsidered

Essential reading on US trend growth and whether spare capacity is much less than previously thought…
Productivity and Potential Output Before, During, and After the Great Recession, John Fernald, FRB San Francisco, June 2014
Potential Output and Total Factor Productivity since 2000, Washington Center for Equitable Growth, 22 Sep 2014
A Tale of Two States—Bringing Back US Productivity Growth, IMF Direct, 25 Sep 2014
Behind the Slowdown of Potential GDP, FRB Cleveland, Feb 2013