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analyse the link between sectoral resource allocation, low productivity growth and stagnant real wages. My results suggest … equilibrium is not efficient as firms fail to internalize the effect of their individual labor allocation on aggregate growth …
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In this paper, we discuss the role that data processing and collection have for the measurement of misallocation. First, we turn to the raw self-reported data for the US, reflecting what can be found in most developing countries. In the raw data, measured misallocation (following Hsieh and...
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