Chart 1-A: Impact on trend total factor productivity peaks in two years, followed by a partial recovery https://www.bankofcanada.ca/?p=246050 x Short-run adjustment Long-run adjustment (Baqaee-Farhi) 10.00 2-0.33 3-0.66 4-0.84 5-1.02-0.90 6-1.08-0.90 7-1.14-0.90 8-1.20-0.90 9-1.25-0.90 10-1.20-0.90 11-1.16-0.90 12-1.14-0.90 13-1.12-0.90 14-1.11-0.90 15-1.10-0.90 16-1.09-0.90 17-1.08-0.90 18-1.07-0.90 19-1.06-0.90 20-1.05-0.90