Measures of institutional quality are strong predictors of cross-country differences in income and productivity. The … efficient allocation of production factors across firms. In this study, we measure the effect of bureaucracy, labor regulations …

In this paper we provide firm-level evidence on the role of resource misallocation for total factor productivity … capital/labor productivity build up more capital/labor and that financial constraints play a significant role, especially in …

significant share of innovative activity and their investments predict future aggregate productivity in the economy, creating … ignore the potential for future jumps reduce MPK and investment dispersion but also lower aggregate productivity …

Total factor productivity (TFP) in Latin America has not increased relative to the US since the mid- 1970s, and in many …-level data from 10 Latin American countries to quantify the heterogeneity of firm productivity and the degree of resource … misallocation within countries. Productivity heterogeneity and resource misallocation are found to be much larger than in the United …

firms have to learn their productivity. We match our model with the salient features of the data and show that our model …

their productivity and net worth and face collateral constraints that cause capital misallocation. TFP endogenously depends … equilibrium, general-equilibrium effects overturn this result: a monetary expansion increases the investment of high-productivity … firms relatively more than that of low-productivity ones, crowding out the latter and increasing TFP. We provide empirical …

heterogeneous firm model à la Melitz (2003). A tax-like distortion increases the productivity cutoff of an MP firm, and vice versa …

their productivity and net worth and face collateral constraints that cause capital misallocation. TFP endogenously depends … equilibrium, general-equilibrium effects overturn this result: a monetary expansion increases the investment of high-productivity … firms relatively more than that of low-productivity ones, crowding out the latter and increasing TFP. We provide empirical …

their productivity and net worth and face collateral constraints that cause capital misallocation. TFP endogenously depends … equilibrium, general-equilibrium effects overturn this result: a monetary expansion increases the investment of high-productivity … firms relatively more than that of low-productivity ones, crowding out the latter and increasing TFP. We provide empirical …