Capital reallocation between firms is procyclical and leads to variations in measured aggregate productivity. In this paper, we ask how much of the cyclical variation in measured productivity is the consequence of capital reallocation. We build a heterogeneous-firm model to study the effects of...

This paper reviews the process of job creation and destruction across a sample of 16 industrial and emerging economies over the past decade. It exploits a harmonized firm-level data set drawn from business registers and enterprise census data. The paper assesses the importance of technological...

This paper analyzes the process of creative destruction across 24 countries and 2-digit industries. This approach harmonizes firm level data across countries, enabling international comparisons and the identification of country-specific as opposed to sectoral and time effects factors. All...