. Private domestic firms and firms with higher productivity appear to face larger distortions that prevent them from expanding …

We develop a theory linking "misallocation," i.e., dispersion in marginal products of capital (MPK), to macroeconomic … productivity by as much as 6%, suggesting large "productivity costs" of business cycles. …

misallocation in agriculture during the period between 2006 and 2016. Despite rapid growth in agricultural productivity and a … productivity over time. Our analysis also reveals important differences between the north and south regions. …