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-level productivity evolution and the equilibrium market configuration. A counterfactual experiment reveals that a 15% R&D subsidy …
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We study a model of industry dynamics in which idiosyncratic risk is uninsurable and establishments are subject to a financing constraint. We ask: does the model, when parameterized to match salient characteristics of plant-level data (Colombia and South Korea), predict large aggregate TFP...
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A positive correlation between productivity and export market participation has been well documented in producer micro … investment activities, particularly investments in R&D or new technology, that both raise productivity and increase the payoff to … set of interactions between R&D, exporting, and productivity. The self- selection of high productivity plants is the …
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We study the gains from trade in a model with endogenously variable markups. We show that the pro-competitive gains from trade are large if the economy is characterized by (i) extensive misallocation, i.e., large inefficiencies associated with markups, and (ii) a weak pattern of cross-country...
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