We study the aggregate productivity effects of firm-level financial frictions. Credit constraints affect not only production decisions but also household-level schooling decisions. In turn, entrepreneurial schooling decisions impact firm-level productivities, whose cross-sectional distribution...

Linked employer-employee data from New Zealand is used to study the relationship between a firm's productivity growth and its exposure to outside knowledge through the hiring of new workers with previous work experience. The estimated relationship between productivity growth and hiring is...

Using linked employer-employee data from Finland, we examine the mobility of workers between establishments as a source of productivity-affecting knowledge spillovers. We find evidence that hiring workers from more productive establishments leads to higher productivity in the following year. For...

This paper studies the choice between general and specific human capital. A trade-off arises because general human capital, while less productive, can easily be reallocated across firms. Accordingly, the fraction of individuals with specific human capital depends on the amount of uncertainty in...

This paper develops and estimates a two-factor model of intergenerational skill transmission when earnings inequality reflects differences in individual skills and other non-skill shocks. We consider heterogeneity in both initial skills and skill growth rates, allowing variation in skill growth...

Using linked employer-employee data from Finland, we examine the mobility of workers between establishments as a source of productivity-affecting knowledge spillovers. We find evidence that hiring workers from more productive establishments leads to higher productivity in the following year. For...