We develop a measure of static misallocation that separates uncertainty from misallocation generated by tax-like distortions. In the Finnish firm-level data, uncertainty accounts for the majority of ex post misallocation and explains a strong decreasing age-dependent trend in it. To understand...

Purpose: The purpose of this research is to develop an assessment model to identify phase of industrial cluster life cycle which comprises definition of the cycle phases, identification of assessment components, and characterization of each phase of cluster life...