aggregation problem introduces a bias into standard measures of firm productivity. We develop a theoretical model of heterogeneous … policy shocks such as deregulation. More generally, we demonstrate that product switching gives rise to a richer set of …

Germany overtook Britain in comparative productivity levels for the whole economy primarily as a result of trends in … economies of scale in a highly urbanised economy with an international orientation. Low productivity in Germany reflected the … services rather than trends in industry. Britain’s productivity lead in services before World War II reflected external …

-level productivity, demand shocks, and cost shocks, and use them to measure desired factor levels. We then estimate adjustment functions … frictions from factor adjustments would yield a dramatic increase in aggregate productivity through improved allocative …

(deregulation) and improving contractual enforcement (legal reform). Deregulation fosters entry, thereby increasing the number of … deregulation, as it preserves incumbents' rents, while at the same time allowing the less efficient among them to transfer control …

Product and labour market deregulation are fundamentally about reducing and redistributing rents, leading economic … players to adjust in turn to this new distribution. Thus, even if deregulation eventually proves beneficial, it comes with … market deregulation, we then use our results to study two specific issues. First, to shed light on macroeconomic evolutions …

This paper analyzes the impact of deregulation and market integration policies on the structure of European banking …

This Paper develops an argument explaining why retail prices may rise in response to the deregulation of opening hours …