Firm heterogeneity and the allocation of resources across firms play a key role in determining aggregate productivity …. Entry barriers and misallocation can substantially impact productivity, as evidenced in recent work. This article provides a …

efficiency of resource allocation is uncorrelated with income levels …Misallocation of resources across firms leads to lower aggregate productivity. In this paper, we provide new estimates … of manufacturing productivity differences across countries and establish by how much they would be reduced if such …

This paper examines the relationship between foreign and domestic investment activity of multinational enterprises. The … investment in fixed assets. The empirical approach, which rests upon extensive and intensive margin variation, is shown to … produce very robust results. These suggest a positive relationship between foreign and home investment in real capital. This …

We examine the neoclassical investment model using a panel of U.S. manufacturing firms. The standard model with no … for firms with low (pre-sample) payouts (firms we expect to face financing constraints). Hem, investment is sensitive to … both firm cash flow and macroeconomic credit conditions, holding constant investment opportunities. Sample splits based on …