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Finance, Managerial Inputs, and Misallocation
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DOI：10.1257/aeri.20220285.png)
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摘要
En 中文
In standard macrofinance models, financial constraints mainly affect mechanism, and the dispersion of marginal revenue product of capital (MRPK) of a firm cohort is less persistent than in the data. We extend a standard model by allowing firms to hire managers, and large firms hire disproportionately more managers, consistent with persist, and even large firms are likely to be constrained. The productivity loss from financial frictions is also substantially amplified.
Keyword:
AGGREGATE PRODUCTIVITY
QUANTITATIVE-ANALYSIS
MANAGEMENT-PRACTICES
POLICY DISTORTIONS
FIRMS
DYNAMICS
INNOVATION
SELECTION
期刊
IF:
11.6
论文数:
5.0K
被引数:
7.5W
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引用论文
Misallocation, Selection, and Productivity: A Quantitative Analysis With Panel Data From China.png)
ECONOMETRICA
OAAI
ECONOMETRICAIF7.1
OAAI分享收藏Finance and Misallocation: Evidence from Plant-Level Data财务与分配不当: 来自工厂级数据的证据AMERICAN ECONOMIC REVIEW
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AMERICAN ECONOMIC REVIEWIF11.6
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