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Credit bubbles and misallocation
(2017)
Why are bubbles harmful to the economy? According to a recent literature on rational bubbles, the problem is the burst that causes a misallocation of funds and triggers a recession. This paper proposes a theory of rational ...
Capital misallocation and mitigating policies
(2016-03-23)
The purpose of this work is to study the role for government in mitigating capital misallocation. We develop an entrepreneurship model in which heterogeneous producers face collateral constraints on production, but can ...
Misallocation in the Brazilian Manufacturing Sector
(Sociedade Brasileira de Econometria, 2017)
The role of resource misallocation in structural change
(2019-02-27)
We develop a multi-sector model of economic growth to explain the distinct patterns of structural change in manufacturing sectors in industrialized countries and those in developing and emerging industrial countries. To ...
Resource Misallocation from Childcare Policies
Childcare subsidies often attempt to allow low income families to work, but a problem arises when they generate unforeseen negative general equilibrium consequences. This paper focuses on a law in Chile that forces firms ...
Public credit and misallocation in Brazil
(2019-05-15)
Esse trabalho investiga a relação entre a política de expansão do crédito público após a crise financeira de 2008 e o seu efeito na alocação de recursos e produtividade setorial no Brasil. Usando um método similar a Hsieh ...
Labor Earnings, Misallocation, and the Returns to Education in Mexico
(BID, 2016-02)
Over the last two decades Mexico has had an open trade regime, experienced macroeconomic stability, and made substantial progress in education. However, average workers’ earnings have stagnated and earnings for workers ...
Goverment size misallocation and the resource curse
(Banco Central de Chile, 2014)
High inflation: resource misallocations and growth effects
(Universidad de Chile. Facultad de Economía y Negocios, 1996-12)
High inflation disrupts the organization of markets. This paper relates those “Industrial Organization” effects of inflation to the poor growth performance of high-inflation economies, in the context of a Schumpeterian ...