our key results to alternative data sets. -- China ; investment ; growth ; productivity ; capital market distortions …

knowledge diffusion mechanism increases the aggregate productivity growth by 0.14 percentage points and enhances welfare …An establishment can improve its productivity by hiring workers from more productive establishments. Then, how … important is worker reallocation for aggregate productivity growth? To study this question, I develop a general equilibrium …

at the micro level typically reduces total factor productivity at the macro level. Quantifying these effects is leading …

at the micro level typically reduces total factor productivity at the macro level. Quantifying these effects is leading …