Using firm-level Compustat data from 1971 to 2000, we report a substantial cross-industry variation of allocative efficiency in capital expenditure in the US economy. Industries with higher allocative efficiency are the ones with higher firm-level value-added growth heterogeneity, higher...

This study estimates the effect of fertility on the labour force participation of married women in Korea. Since Korean households prefer sons to daughters, there is exogenous variation in the number of children among households, depending on their first child's sex. Using this exogenous...