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Pietrobon, Davide; Ruggieri, Alessandro - 2024

We study the impact of incomplete consumption risk-sharing on land misallocation in rural economies. We develop a general equilibrium model of land cultivation choices, where heterogeneous agricultural households face idiosyncratic output shocks and insure themselves by participating in a...

Persistent link: https://www.econbiz.de/10015064226

Risk-adjusted capital allocation and misallocation

David, Joel M.; Schmid, Lukas; Zeke, David - 2020

We develop a theory linking "misallocation," i.e., dispersion in marginal products of capital (MPK), to macroeconomic … productivity by as much as 6%, suggesting large "productivity costs" of business cycles. …

Persistent link: https://www.econbiz.de/10012395487

A new look at uncertainty shocks : imperfect information and misallocation

Senga, Tatsuro - 2015

a recession and the slow pace of subsequent recovery. These results are obtained in an environment that embeds Jovanovic …'s (1982) model of learning in a setting where each firm gradually learns about its own productivity, and each occasionally …

Persistent link: https://www.econbiz.de/10011401309

Uncertainty, intangible capital, and productivity dynamics

Palombo, Edoardo - 2020

productivity growth. This paper offers a quantitative study on the link between uncertainty and low productivity growth. Firstly … Recession. Secondly, to investigate the effect of uncertainty on productivity growth dynamics, I present a novel general … productivity growth when accounting for the empirical discrepancy between the realised and expected changes to the second-moment of …

Persistent link: https://www.econbiz.de/10012243292