Information, Misallocation, and Aggregate Productivity *
نویسندگان
چکیده
منابع مشابه
Information, Misallocation and Aggregate Productivity
We explore the implications of imperfect information about firm-level fundamentals for the misallocation of factors of production across heterogeneous firms and the consequences for aggregate productivity and output. In our setup, firms learn from both private sources and stock market prices, the latter determined in a noisy rational expectations model of asset markets. We devise a novel calibr...
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ژورنال
عنوان ژورنال: The Quarterly Journal of Economics
سال: 2016
ISSN: 0033-5533,1531-4650
DOI: 10.1093/qje/qjw006