B Moll - University of Chicago mimeo, 2010 - robertmtownsend.net
Abstract Does capital misallocation from financial frictions cause substantial aggregate
productivity losses? To explore this question, I propose a highly tractable theory featuring
entrepreneurs who are subject to borrowing constraints and idiosyncratic productivity ...
AV Banerjee… - American Economic Journal: …, 2010 - ingentaconnect.com
Abstract: Recent papers argue that the misallocation of resources can explain large cross-
country TFP differences. This argument is underpinned by empirical evidence documenting
substantial dispersion in the marginal products of resources, particularly capital, in ...
FJ Buera… - 2012 - nber.org
We take an off-the-shelf model with financial frictions and heterogeneity, and study the
mapping from a credit crunch, modeled as a shock to collateral constraints, to simple
aggregate wedges. We study three variants of this model that only differ in the form of ...
B Moll - University of Chicago mimeo, 2009 - princeton.edu
Abstract I study the implications of the limited enforceability of credit contracts for inequality
and economic growth. I introduce limited enforcement into a deterministic neoclassical
growth model. Two types of entrepreneurs differ in their initial wealth, ability and patience ...
RE Lucas Jr… - 2011 - nber.org
We analyze a model economy with many agents, each with a different productivity level.
Agents divide their time between two activities: producing goods with the production-related
knowledge they already have, and interacting with others in search of new, productivity- ...
[CITATION] Dynastic Capital Misallocation
F Buera… - UCLA Work in Progess, 2009
[CITATION] VWhy Does Misallocation Persist
AV Banerjee… - V Forth) coming, American Economic Journal: …, 2010
[CITATION] Why Does Misallocation Persist?” forthcoming, American Economic Journal: Macroeconomics
AV Banerjee… - 2009
B Moll - 2008 - princeton.edu
Abstract What are the implications of cross-country interdependencies for capital
accumulation? I tackle this question by introducing bilateral international externalities into a
neoclassical growth model with n otherwise standard economies. In particular, I ask under ...
F Buera, B Moll… - Manuscript, University of California, Los …, 2011 - artsci.wustl.edu
Abstract Market failures provide a rationale for policy intervention. But policies are often hard
to alter once in place. We argue that this inertia can result in well-intended policies having
sizable negative long-run effects on aggregate output and productivity. In our theory, ...
[CITATION] Medicare Prescription Drug, Improvement, and Modernization Act: A Case Study Analysis for Pennsylvania
BH Moll - 2004
B Moll - 2011 - gradworks.umi.com
Abstract: First Chapter: Does capital misallocation from financial frictions cause substantial
aggregate productivity losses? To explore this question, I propose a highly tractable theory
featuring entrepreneurs who are subject to borrowing constraints and idiosyncratic ...
D Lagakos, B Moll… - 2012 - siteresources.worldbank.org
Abstract Using recently available large-sample micro data, we add to existing development
accounting exercises by: i) allowing the returns to worker experience to vary across
countries; and ii) using a higher order polynomial functional form to estimate the ...
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