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This paper argues that regional variation in the efficiency of labor allocation among German manufacturing plants plays …-West productivity gap is associated with a less efficient labor allocation in former East Germany. Yet, we also demonstrate that the … suggest that regional productivity differences could be substantially narrowed by a more efficient labor allocation among …
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Many economists believe that the stock market plays an important role in efficiently allocating capital to its most productive uses. This standard story of the stock market was called into question by events in the late 1990s, when some observers believed that stock market overvaluation - or a...
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