[PDF] Top 20 Capital misallocation and aggregate factor productivity

... From the viewpoint of economic theory, the most interesting feature of the law of motion in equation 2 is what it says about the stochastic process of macroeconomic aggregates factor pro[r] ... See full document

... in aggregate TFP and reallocation of unprecedented amount (see Foster et ...the aggregate the average …rm is able to …nance its capital expenditures by internal cash ...total factor ... See full document

... This study contributes to two strands of literature: corporate lobbying and resource misallocation. Firm-level empirical work on corporate lobbying has been done in several dimensions. Igan et al. (2012) find that ... See full document

... human capital, financial development, and business environment, which determine the abil- ity to absorb and adapt international knowledge and ...their productivity increased in the previous ... See full document

... resource misallocation among heterogeneous firms, Hsieh and Klenow (2009) concluded that the aggregate total factor productivity (TFP) in manufacturing would increase by at least 30 per cent ... See full document

... that factor at each concession ...labor, capital and/or revenues, the marginal costs of labor and capital faced by each concession is the same (w and r ...reassign capital or labor across ... See full document

... physical capital and ...physical capital, with an ensuing decline in real returns on physical capital and increases in gross ...human capital emanates from the combined effects of increasing ... See full document

... growth. Capital, labor and technology therefore played a significant role in explaining ...assumed factor shares in total output were used as elasticities in decomposing the sources of the country's ... See full document

... of capital accumulation and aggre- gate efficiency, this paper discusses a structural change channel through which some of the deeper determinants described in Figure 1might affect the prox- imate sources of labor ... See full document

... quantify productivity losses from misallocation in China (and India) relative to the United ...of misallocation across all manufacturing firms in China, we estimate the increase in ... See full document

... of misallocation of ...of factor prices resulting from policy interventions can lead to significant reductions in output, while also reducing total factor productivity by 30%-50% ...US ... See full document

... on aggregate productivity using micro-level data within a quantitative ...the aggregate effects of land use ...total factor productivity and ...While misallocation in agriculture ... See full document

... source misallocation negatively affects aggregate productivity in a model of heterogeneous firms to the highest ...minimum aggregate total factor productivity (TFP) under ... See full document

... resource misallocation on aggregate ...or aggregate production ...resource misallocation explains the differ- ence in aggregate productivity across developed ...resource ... See full document

... economic productivity and convergence issue of OECD countries, the economic structures of which are partially similar to each other and that are representative of relatively advanced economies, has been ... See full document

... I develop and calibrate an industry equilibrium model with heterogeneous multi- national firms to study the impact of a potential policy change from the current U.S. worldwide taxation system to a territorial system on ... See full document

... Various types of efficiencies exist within the banking literature; namely, technical, allocative, productive, profit, and cost efficiency. Technical efficiency implies that a particular bank produces a given set of ... See full document

... of capital per worker, human capital, and factor productivity to output per ...physical capital, human capital, and total factor productivity are the dependent ... See full document

... Venture capital funds exist almost everywhere and the vast majority of member states refer to those in their ...venture capital funds (Austria, UK) or the removal of unfavourable bias in the tax system ... See full document

... Venture capital funds exist almost everywhere and the vast majority of member states refer to those in their ...venture capital funds (Austria, UK) or the removal of unfavourable bias in the tax system ... See full document