Petrin, Amil; White, T. Kirk; Reiter, Jerome P. - Census Bureau, Department of Commerce - 2009
distortions and frictions. On average, we find that aggregate reallocation made a larger contribution than aggregate technical … efficiency growth. Our estimates of the contribution of reallocation range from 1:7% to2:1% per year, while our estimates of the … total reallocation, pointing to an important role for technical efficiency in macroeconomic fluctuations. Aggregate …