We investigate theoretically and empirically the role of wholesalers in mediating the productivity effects of trade … liberalization. Intermediaries provide indirect access to foreign produced inputs. The productivity effects of input tariff cuts on … industry. Using firm level data from China, we document that wholesalers play no such role for direct importers. However, other …

their productivity and net worth and face collateral constraints that cause capital misallocation. TFP endogenously depends … equilibrium, general-equilibrium effects overturn this result: a monetary expansion increases the investment of high-productivity … firms relatively more than that of low-productivity ones, crowding out the latter and increasing TFP. We provide empirical …

matched firm-level customs and manufacturing survey data, together with Input-Output tables for China, to examine how Chinese … firms position themselves in global production lines and how this evolves with productivity and performance over the firm … production stages conducted in China over the 1992-2014 period, both in the aggregate and within firms over time. Firms span more …

total factor productivity, followed by fiscal redistribution. These two factors, together, account for more than 70 percent …

combine an emission trading system (ETS) with output-based allocation (OBA) of allowances to exposed industries. We first show …

high-quality firms, who under-produce in the market allocation. Furthermore, the fixed cost generates a positive …

allocation power to distribute benefits from the public good in a way that motivates people to contribute. Re-allocating team …

process thus fosters firm creation and improves aggregate productivity. It also complements policies that stimulate firm entry …