Firms, Misallocation, and Aggregate Productivity: A Review
Posted: 8 Aug 2014
Date Written: August 2014
Abstract
Firm heterogeneity and the allocation of resources across firms play a key role in determining aggregate productivity. Entry barriers and misallocation can substantially impact productivity, as evidenced in recent work. This article provides a unifying theoretical framework and a review of this literature.
Suggested Citation: Suggested Citation
Hopenhayn, Hugo A., Firms, Misallocation, and Aggregate Productivity: A Review (August 2014). Annual Review of Economics, Vol. 6, pp. 735-770, 2014, Available at SSRN: https://ssrn.com/abstract=2477781 or http://dx.doi.org/10.1146/annurev-economics-082912-110223
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