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A Theory of the Production and Allocation of Effort

Becker, Gary S. - 2022

The purpose of this paper is to analyze systematically the production of effort and its allocation among different … of the production and allocation of effort by a free person. Section III applies this analysis to the value placed on … wage rates offered and the effort supplied by their workers. Section V analyzes the production and allocation of effort by …

Persistent link: https://www.econbiz.de/10014158837

Firing Costs, Misallocation, and Aggregate Productivity

Da-Rocha, José María - 2017

We assess the quantitative impact of firing costs on aggregate total factor productivity (TFP) in a dynamic general-equilibrium framework where the distribution of establishment-level productivity is not invariant to the policy. Firing costs not only generate static factor misallocation, but...

Persistent link: https://www.econbiz.de/10012966591

Market Power, Production (Mis)Allocation and OPEC

Asker, John - 2017

This paper estimates the extent to which market power is a source of production misallocation. Productive inefficiency occurs through more production being allocated to higher-cost units of production, and less production to lower-cost production units, conditional on a fixed aggregate quantity....

Persistent link: https://www.econbiz.de/10012948063

Misallocation, Establishment Size, and Productivity

Bento, Pedro - 2016

We consider a tractable model of heterogeneous production units that features endogenous entry and productivity investment to assess the quantitative impact of policy distortions on aggregate output and establishment size. Relative to the standard factor misallocation framework, policy...

Persistent link: https://www.econbiz.de/10012979762

Capital Reallocation

Eisfeldt, Andrea L. - 2018

Capital reallocation is procyclical, despite measured productive reallocative opportunities being acyclical, or even countercyclical. This paper reviews the advances in the literature studying the causes and consequences of capital reallocation (or lack thereof). We provide a comprehensive set...

Persistent link: https://www.econbiz.de/10012910643

Transferability of Migration Licenses and the Distribution of Potential Rents

Bivins, Laura L.; Krishna, Kala - 2021

This paper compares the effects of migration restrictions using licenses which are freely traded in a competitive labor market to those that occur when licenses are allocated to firms who are not permitted to trade them. There is reason to expect that a policy of making licenses non-transferable...

Persistent link: https://www.econbiz.de/10013218800

Financial Development and Growth in the Short and Long Run

Fisman, Raymond; Love, Inessa - 2021

We analyze the relationship between financial development and inter-industry resource allocation in the short- and long …

Persistent link: https://www.econbiz.de/10013222934

Resource Allocation During the Transition to a Market Economy : Political Implications of Supply Bottlenecks and Adjustment Costs

Aizenman, Joshua; Isard, Peter - 2021

This paper explains why a laissez-faire approach may fail to account for externalities in transforming economies, focusing on externalities associated with supply bottlenecks and adjustment costs. Bottlenecks tend to arise whenever input requirements are stochastic and the opportunity cost of...

Persistent link: https://www.econbiz.de/10013224690

Institutions and Labor Reallocation

Bertola, Giuseppe; Rogerson, Richard Donald - 2021

Despite stringent dismissal restrictions in most European countries, rates of job creation and destruction are remarkably similar across European and North American labor markets. This paper shows that relative-wage compression is conducive to higher employer-initiated job turnover, and argues...

Persistent link: https://www.econbiz.de/10013224868

Static and Dynamic Resource Allocation Effects of Corporate and Personaltax Integration in the U.S : A General Equilibrium Approach(Rev)

Fullerton, Don; King, A. Thomas; Shoven, John B.; … - 2021

This paper presents estimates of static and dynamic general equilibrium resource allocation effects for four … dynamic resource allocation effects are sensitive to the choice of the replacement tax, while static gains are reasonably …

Persistent link: https://www.econbiz.de/10013225041