Replication data for: In the Wrong Hands: Complementarities, Resource Allocation, and TFP
Principal Investigator(s): View help for Principal Investigator(s) Simeon D. Alder
Version: View help for Version V1
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AEJMacro-2012-0257_replication | 10/12/2019 07:20:PM | ||
LICENSE.txt | text/plain | 14.6 KB | 10/12/2019 03:20:PM |
Project Citation:
Alder, Simeon D. Replication data for: In the Wrong Hands: Complementarities, Resource Allocation, and TFP. Nashville, TN: American Economic Association [publisher], 2016. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E114058V1
Project Description
Summary:
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I explore mismatch between firms and their managers as a source of variation in aggregate output and total factor productivity (TFP). The model is calibrated to match observations on the size distribution of US manufacturing firms, managerial compensation, and aggregate moments in the national accounts. Quantitatively, small deviations from assortative matching can have sizeable effects on output and TFP. "Cronyism," where managerial positions are allocated by status rather than talent, imposes a substantial burden on economic welfare. Moreover, the model can reconcile the seemingly contradictory evidence from numerous case studies with results from recent contributions to the assignment literature. (JEL D24, E23, L11, L60, M52, O40)
Scope of Project
JEL Classification:
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D24 Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
E23 Macroeconomics: Production
L11 Production, Pricing, and Market Structure; Size Distribution of Firms
L60 Industry Studies: Manufacturing: General
M52 Personnel Economics: Compensation and Compensation Methods and Their Effects
O40 Economic Growth and Aggregate Productivity: General
D24 Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
E23 Macroeconomics: Production
L11 Production, Pricing, and Market Structure; Size Distribution of Firms
L60 Industry Studies: Manufacturing: General
M52 Personnel Economics: Compensation and Compensation Methods and Their Effects
O40 Economic Growth and Aggregate Productivity: General
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