redistributed farm lands. We study this reform in the context of an industry model of agriculture with a non-degenerate distribution … land and the ban on its transfer are key for the magnitude of the results since a market allocation of the above …

(misallocation) and (2) the allocation of workers across sectors, in particular the type of farmers who operate in agriculture … factor misallocation in agriculture. We find that there are substantial frictions in both the land and capital markets linked … aggregate agricultural productivity in China by affecting two key margins: (1) the allocation of resources across farmers …

appear to vary greatly, seemingly in conflict with a model of efficient allocation across farms. In this paper, we present a …

throughout the prewar period. In our two-sector neoclassical growth model, the barrier-induced sectoral mis-allocation of labor … stay in agriculture …

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 …

aggregate uncertainty. Gains from more efficient capital allocation and gains from risk sharing are accounted for simultaneously …