productivity of labor. Therefore, a reallocation of labor from a sector with higher output per worker to a sector with lower output … per worker may be productivity enhancing …

We propose a theory linking imperfect information to resource misallocation and hence to aggregate productivity and … US, China, and India reveals substantial losses in productivity and output due to the informational friction. Our … estimates for these losses range from 7-10% for productivity and 10-14% for output in China and India, and are smaller, though …

the impact and determinants of sectoral changes and of the degree of dualism (or allocation inefficiency) in a dual …