In the United States, the average 40-year-old plant employs more than seven times as many workers as the typical plant 5 years or younger. In contrast, surviving plants in India and Mexico exhibit much slower growth, roughly doubling in size over the same age range. The divergence in plant...

Resource misallocation can lower aggregate total factor productivity (TFP). We use microdata on manufacturing establishments to quantify the potential extent of misallocation in China and India versus the United States. We measure sizable gaps in marginal products of labor and capital across...

In the 1988-2004 microdata collected by the U.S. Bureau of Labor Statistics for the Consumer Price Index, price changes are frequent (every 4-7 months, depending on the treatment of sale prices) and large in absolute value (on the order of 10%). The size and timing of price changes vary...