Finance and Misallocation: Evidence from Plant-level Data
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We study a model of industry dynamics in which idiosyncratic risk is uninsurable and establishments are subject to a financing constraint. We ask: does the model, when parameterized to match salient characteristics of plant-level data (Colombia and South Korea), predict large aggregate TFP losses
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美国国家经济研究局创建时间：
2010-01-01
