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Productivity dynamics in the Great Stagnation: evidence from British businesses
Riley, Rebecca; Rosazza Bondibene, Chiara; Young, Garry - London School of Economics (LSE) - 2014
We investigate labor productivity dynamics amongst British businesses in the wake of the credit crisis of 2007/8. The external restructuring of firms (i.e. changes in market share, firm entry and exit) contributed to a fall in productivity growth relative to trend amongst small businesses in...
Persistent link: https://www.econbiz.de/10011126561
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Productivity dynamics in the great stagnation : evidence from British businesses
Riley, Rebecca R.; Rosazza Bondibene, Chiara; Young, Garry - 2014 - This draft: 30 May 2014
Persistent link: https://www.econbiz.de/10012170235
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The productivity puzzle: a firm-level investigation into employment behaviour and resource allocation over the crisis
Barnett, Alina; Chiu, Adrian; Franklin, Jeremy; … - Bank of England - 2014
finds that within-firm productivity growth tends to be procyclical and emphasises the importance of the reallocation of … resource reallocation between firms and sectors. To assess the importance of this to aggregate productivity growth we apply the … method used by Baily, Bartelsman and Haltiwanger. We find that reallocation between firms (in terms of both the movement of …
Persistent link: https://www.econbiz.de/10010839035
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Markups and Misallocation with Trade and Heterogeneous Firms
Weinberger, Ariel - 2017
towards production. This paper quantifies a gains from trade component that is present only when reallocation is properly …
Persistent link: https://www.econbiz.de/10012970227
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Institutions and Resource Misallocation : Firm-level Evidence
Pellegrino, Bruno - 2019
Measures of institutional quality are strong predictors of cross-country differences in income and productivity. The institutional economics literature has long maintained that one way institutions influence economic growth is by impacting the efficient allocation of production factors across...
Persistent link: https://www.econbiz.de/10012900823
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Misallocation and Manufacturing TFP in Korea, 1982-2007
Kim, Minho; Oh, Jiyoon; Shin, Yongseok - 2019
The authors apply the analysis of Hsieh and Klenow (2009) to assess the degree of resource misallocation in the Republic of Korea manufacturing sector from 1982 to 2007. They find improvement in the aggregate allocative efficiency during the first decade and a strong reversal after 1992. This...
Persistent link: https://www.econbiz.de/10014121862
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Resource Misallocation and Productivity : the Case of Cote D'ivoire
BAH, Mamadou Mouminy; Bosson Jean Marcelin, BROU - 2021
Resource misallocation can lower aggregate total factor productivity (TFP). This paper uses Hsieh and Klenow’s (2009) methodology to quantify the effect of within-industry resource misallocation on aggregate TFP in Côte d’Ivoire by focusing on all the sectors of the economy (agriculture,...
Persistent link: https://www.econbiz.de/10013241767
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Risk-Adjusted Capital Allocation and Misallocation
David, Joel - 2018
We develop a theory linking “misallocation,” i.e., dispersion in static marginal products of capital (MPK), to systematic investment risks. In our setup, firms differ in their exposure to these risks, which we show leads naturally to heterogeneity in firm-level risk premia and, more...
Persistent link: https://www.econbiz.de/10012910538
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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 risk. Dispersion in MPK depends on (i) heterogeneity in firm-level risk premia and (ii) the price of risk, and thus is countercyclical. We document strong empirical support for...
Persistent link: https://www.econbiz.de/10012395487
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Risk-Adjusted Capital Allocation and Misallocation
David, Joel Michael; Schmid, Lukas; Zeke, David - 2021
We develop a theory linking “misallocation,” i.e., dispersion in marginal products of capital (MPK), to macroeconomic risk. Dispersion in MPK depends on (i) heterogeneity in firm-level risk premia and (ii) the price of risk, and thus is countercyclical. We document strong empirical support...
Persistent link: https://www.econbiz.de/10013314760