Multifactor productivity rose at a relatively solid pace - albeit not as fast as earlier in the century - despite the weak economy during much of that period. Productivity growth since World War II is more familiar to us and is based on more reliable data - those constructed as part of the multifactor productivity program at the BLS.
Monetary policy before and after the crisis Much has been written about how globalisation might impact on the work of central banks and whether it weakens the effectiveness of domestic monetary policy.