Impaired Capital Reallocation and Productivity
نویسندگان
چکیده
منابع مشابه
Capital Reallocation and Growth
Heterogeneity is ubiquitous in firm-level and sectoral data. Equilibrium models, however, typically assume a representative firm, as in Andrew B. Abel and Olivier J. Blanchard (1983). The representative firm paradigm leaves no role for the distribution of capital. We model capital reallocation in a general equilibrium model with two sectors. Capital adjustment costs capture illiquidity in our m...
متن کاملDelayed Capital Reallocation
How do firms adjust their balance sheets and reallocate capital stock in response to recurrent productivity or profitability shocks? Why does capital reallocation fluctuate procyclically, while the potential benefits to reallocate appear to be countercyclical? To answer these questions, this paper develops a tractable dynamic general equilibrium model. In the model, firms face idiosyncratic pro...
متن کاملResource Reallocation , Productivity Dynamics , and Business Cycles
Title of Dissertation / Thesis: RESOURCE REALLOCATION, PRODUCTIVITY DYNAMICS, AND BUSINESS CYCLES Min Ouyang, Doctor of Philosophy, 2005 Dissertation / Thesis Directed By: Professor John Shea, Department of Economics Professor John Rust, Department of Economics This dissertation explores the interactions between resource reallocation, productivity dynamics and business cycles. A theory that com...
متن کاملCapital Reallocation and Liquidity with Search Frictions
I construct a model of an asset market subject to search frictions, in an environment where both investment and asset liquidity are determined endogenously. This provides a natural framework to analyze the interaction between capital reallocation and liquidity in response to aggregate shocks, which I assess quantitatively. The search model of capital reallocation exhibits strong internal propag...
متن کاملExporting and Productivity: The Importance of Reallocation
Exporting is often touted as a way to increase economic growth. This paper examines whether exporting has played any role in increasing productivity growth in U.S. manufacturing. While exporting plants have substantially higher productivity levels, there is no evidence that exporting increases plant productivity growth rates. However, within the same industry, exporters do grow faster than non-...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: National Institute Economic Review
سال: 2014
ISSN: 0027-9501,1741-3036
DOI: 10.1177/002795011422800104