| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w23129 |
| 来源ID | Working Paper 23129 |
| The Sources of Capital Misallocation | |
| Joel M. David; Venky Venkateswaran | |
| 发表日期 | 2017-02-06 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | We develop a methodology to disentangle sources of capital ‘misallocation’, i.e. dispersion in value-added/capital. It measures the contributions of technological/informational frictions and a rich class of firm-specific factors. An application to Chinese manufacturing firms reveals that adjustment costs and uncertainty, while significant, explain only a modest fraction of the dispersion, which stems largely from other factors: a component correlated with productivity and a fixed effect. Adjustment costs are more salient for large US firms, though other factors still account for bulk of the dispersion. Technological/ markup heterogeneity explains a limited fraction in China, but a potentially large share in the US. |
| 主题 | Macroeconomics ; Development and Growth ; Development ; Growth and Productivity |
| URL | https://www.nber.org/papers/w23129 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/580803 |
| 推荐引用方式 GB/T 7714 | Joel M. David,Venky Venkateswaran. The Sources of Capital Misallocation. 2017. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w23129.pdf（892KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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