the source. Productivity and Potential Output Before, During, and After the Great Recession

and Dan Wilson for helpful comments and conversations. I also thank seminar participants at several institutions, as well as other colleagues at the San Francisco Fed. I thank Titan Alon, Kuni Natsuki and Bing Wang for excellent research assistance. The views expressed herein are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research, the Federal Reserve Bank of San Francisco, or the Board of Governors of the Federal Reserve System. NBER working papers are circulated for discussion and comment purposes. They have not been peer-reviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications