Capital Misallocation: Frictions or Distortions?
Capital Misallocation: Frictions or Distortions?
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St. Louis: Federal Reserve Bank of St. Louis
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English
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St. Louis: Federal Reserve Bank of St. Louis
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We study a model of investment in which both technological and informational frictions as well as institutional/policy distortions lead to capital misallocation, i.e., static marginal products are not equalized. We devise an empirical strategy to disentangle these forces using readily observable moments in firm-level data. Applying this methodology...
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Capital Misallocation: Frictions or Distortions?
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TN_cdi_proquest_journals_2059089265
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https://devfeature-collection.sl.nsw.gov.au/record/TN_cdi_proquest_journals_2059089265
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https://www.proquest.com/docview/2059089265?pq-origsite=primo&accountid=13902
