) productivity or hiring of workers outside the household. This owes to overlapping labor productivity of entering and exiting firms … and low subsequent productivity growth and hiring among the surviving entrants. Nonetheless, entry and exit are associated …

1980's and 1990's, Brazil and Colombia, we examine the response of the informal sector to liberalization. In Brazil, we …

. Heterogeneous firms sort into the formal or informal sector. We estimate the model using data from Brazil, and use counterfactual … unambiguously decreases informality in the tradable sector, but has ambiguous effects on aggregate informality. (2) The productivity … when informality is repressed. (4) Repressing informality increases productivity, but at the expense of employment and …

the total in the poorest countries. Second, it has extremely low productivity compared to the formal economy: informal … regulations is an important reason for informality, the productivity of informal firms is too low for them to thrive in the formal …

solve for the optimal debt maturity for Brazil as an example of a developing country and the U.S. as an example of a mature …