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Using the approach suggested by Gabaix (Econometrica 2011) this paper demonstrates that idiosyncratic shocks in the largest firms are important for an understanding of aggregate volatility in German manufacturing industries. The implications of this finding for theoretical and empirical research...
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study examines the effects of corruption on productivity. Corruption is defined as a "bribe tax" and is compared with … effect on firm-level productivity, while the effect of the time tax is insignificant. At the same time, there is no evidence … achieve higher productivity by helping circumvent cumbersome bureaucratic requirements. When the sample is split between …
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impacts found come from trained firms competing away sales from other businesses versus through productivity improvements, and …
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