Firms, Misallocation, and Aggregate Productivity: A Review

Hugo A. Hopenhayn ()
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Hugo A. Hopenhayn: Department of Economics, University of California, Los Angeles, California 90095

Annual Review of Economics, 2014, vol. 6, issue 1, 735-770

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.

Keywords: distortions; resource allocation; firm heterogeneity (search for similar items in EconPapers)
JEL-codes: E23 E26 O10 O11 O40 O47 (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (206)

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