We propose a theory linking imperfect information to resource misallocation and hence to aggregate productivity and … US, China, and India reveals substantial losses in productivity and output due to the informational friction. Our … estimates for these losses range from 7-10% for productivity and 10-14% for output in China and India, and are smaller, though …

We propose a theory linking imperfect information to resource misallocation and hence to aggregate productivity and … US, China, and India reveals substantial losses in productivity and output due to the informational friction. Our … estimates for these losses range from 7-10% for productivity and 10-14% for output in China and India, and are smaller, though …

We propose a theory linking imperfect information to resource misallocation and hence to aggregate productivity and … US, China, and India reveals substantial losses in productivity and output due to the informational friction. Our … estimates for these losses range from 7-10% for productivity and 10-14% for output in China and India, and are smaller, though …

relationship to both (i) institutional constraints, and (ii) productivity"--National Bureau of Economic Research web site …

Resource misallocation can lower aggregate total factor productivity (TFP). We use micro data on manufacturing …