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We provide a framework to study how different allocation systems of public procurement contracts affect firm dynamics and long-run macroeconomic outcomes. We start by using a newly created panel data set of administrative data that merges Spanish credit register loan data, quasi-census...
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We study the aggregate productivity effects of firm-level financial frictions. Credit constraints affect not only …-invest in schooling. Frictions lower aggregate productivity because talent is misallocated across occupations, and capital … responses. We find that these effects combined account for about 1/5 of the U.S.-India aggregate productivity difference …
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