Capital misallocation and aggregate factor productivity

If sector productivities follow a symmetric two-state Markov process, many of our economies converge to a periodic cycle alternating between mild expansions and abrupt contractions.

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Year of publication:	2009
Authors:	Kaas, Leo ; Azariadis, Costas
Institutions:	Society for Economic Dynamics - SED

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Extent:	application/pdf
Series:	2009 Meeting Papers.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series 2009 SED Meeting Papers Number 953
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011080377