their productivity and net worth and face collateral constraints that cause capital misallocation. TFP endogenously depends … on the time-varying distribution of firms. Although a reduction in real rates increases misallocation in partial … misallocation. …

hence not a symptom of misallocation within the firm, but rather actions taken by the firm to mitigate external credit … predominantly populated by single-plant firms, the gains from reducing their distortions to the level of developed are larger than …

distortions to the allocation of labor. We find that they are considerably smaller than typically claimed in the literature. …Average wages are considerably lower in agriculture than in the other sectors. We document this fact for thirteen …

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

socially optimal allocation during the transitional phase to the social planner's steady state. …

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

Small farms and fragmented plots are hallmarks of agriculture in less-developed countries, and there is evidence of …

How costly is the misallocation of production that we might expect to result from distortions such as market power …, incomplete contracts, taxes, regulations, or corruption? This paper develops new tools for the study of misallocation that place … misallocation and to quantify the welfare losses that it causes. We then consider an application in which thousands of firms …