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 …

-creditor reform affected the allocation of resources across firms. We find evidence that the reform was particularly effective in … alleviating credit constraints for high productivity firms. After the reform, better access to credit allowed these firms to … thrive on the expense of others. Our results suggest that better access to credit can improve the allocation of resources …

also experience increases in sales per worker, wages, and measured total factor productivity. These effects are short …

Total Factor Productivity (TFP), the empirical evidence on agglomeration externalities rests on measures obtained using firm … suggests that the revenue productivity advantage of denser areas is mainly driven by higher prices charged rather than …-level differences in productivity across space. …

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

Why do cities differ so much in productivity? We document that most of the measured dispersion in productivity across … US cities is spurious and reflects granularity bias: idiosyncratic heterogeneity in plant-level productivity and size …

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

This paper assesses sources of productivity spillovers in China's electric and electronic manufacturing industry using … important reliance on technology. In particular, the paper focuses on the role of other firms' productivity as well as … productivity shifters in affecting own firm-level total factor productivity. In addition, this paper examines the possible …