Capital misallocation and aggregate factor productivity

Leo Kaas and Costas Azariadis

No 953, 2009 Meeting Papers from Society for Economic Dynamics

Abstract: If sector productivities follow a symmetric two-state Markov process, many of our economies converge to a periodic cycle alternating between mild expansions and abrupt contractions.

Date: 2009
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Related works:
Journal Article: CAPITAL MISALLOCATION AND AGGREGATE FACTOR PRODUCTIVITY (2016)
Working Paper: Capital misallocation and aggregate factor productivity (2012)
Working Paper: Capital Misallocation and Aggregate Factor Productivity (2010)
Working Paper: Capital misallocation and aggregate factor productivity (2009)
Working Paper: Capital misallocation and aggregate factor productivity (2009)
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