theory entrepreneurs have private information about the multifactor productivity of their technology. We study how the … characterized by differences in productivity across industries. Our theory also suggests that entrepreneurs have a vested interest …

cause of output dispersion and that productivity variance was considerably smaller than in late years. Only after this date … accumulation, its variance is explained by productivity …

determine features of the pattern of international trade and the macroeconomic effects of productivity shocks. This is … is likely to be determined by heterogeneity in trade costs as well as by comparative advantage based on productivity. For … between status as traded and nontraded. Our framework sheds light on the interaction between productivity and iceberg trade …