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There is considerable evidence that producer-level churning contributes substantially to aggregate (industry) productivity growth, as more productive businesses displace less productive ones. However, this research has been limited by the fact that producer-level prices are typically unobserved;...
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In this study, U.S. manufacturing firms' profitability measures including profit margins and returns on equity are … profitability ratios and the valuation multiples of U.S. manufacturing firms are insulated from the effects of monetary policy, and … contractionary policy is significantly correlated with these firms' profitability and price multiples, it has different impacts on …
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