Dynamic Inputs and Resource (Mis)Allocation.
We investigate the role of dynamic production inputs and their associated adjustment costs in shaping the dispersion of static measures of capital misallocation within industries (and countries). Across nine data sets spanning 40 countries, we find that industries exhibiting greater time-series vola...
| Publicado en: | Journal of Political Economy Vol. 122; no. 5; pp. 1013 - 1064 |
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| Autores principales: | , , |
| Formato: | Artículo |
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University of Chicago Press
Oct2014
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=98781842&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 98781842 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00223808 JPE jtl: Journal of Political Economy issn: 00223808 maglogo: N pubinfo: dt: Oct2014 vid: 122 iid: 5 pid: 415 pub: University of Chicago Press artinfo: ui: 98781842 10.1086/677072 ppf: 1013 ppct: 51 formats: tig: atl: Dynamic Inputs and Resource (Mis)Allocation. aug: au: Asker, John Collard-Wexler, Allan De Loecker, Jan affil: University of California, Los Angeles, and National Bureau of Economic Research Duke University and National Bureau of Economic Research Princeton University and National Bureau of Economic Research su: Industrial productivity Economics Cross-cultural studies Capital productivity Mathematical models Resource allocation -- Mathematical models Asset allocation Mathematical models in business Mathematical models of capital investments Allocative efficiency (Economics) Mathematical models of capital sug: subj: Industrial productivity Economics Cross-cultural studies Balanced funds / asset allocation funds Capital productivity Mathematical models Resource allocation -- Mathematical models Asset allocation Mathematical models in business Mathematical models of capital investments Allocative efficiency (Economics) Mathematical models of capital ab: We investigate the role of dynamic production inputs and their associated adjustment costs in shaping the dispersion of static measures of capital misallocation within industries (and countries). Across nine data sets spanning 40 countries, we find that industries exhibiting greater time-series volatility of productivity have greater cross-sectional dispersion of the marginal revenue product of capital. We use a standard investment model with adjustment costs to show that variation in the volatility of productivity across these industries and economies can explain a large share (80-90 percent) of the cross-industry (and cross-country) variation in the dispersion of the marginal revenue product of capital. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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