Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/265184 
Erscheinungsjahr: 
2021
Schriftenreihe/Nr.: 
Discussion paper No. 146
Verlag: 
Aboa Centre for Economics (ACE), Turku
Zusammenfassung: 
We develop a measure of static misallocation that separates uncertainty from misallocation generated by tax-like distortions. In the Finnish firm-level data, uncertainty accounts for the majority of ex post misallocation and explains a strong decreasing age-dependent trend in it. To understand these observations, we set up a life-cycle model of firm growth where new firms have to learn their productivity. We match our model with the salient features of the data and show that our model implies idiosyncratic distortions, in line with our accounting approach. According to our quantitative results, uncertainty suppresses output by 38%, while misallocation has a 26% negative effect on output.
Schlagwörter: 
firm dynamics
uncertainty
misallocation
JEL: 
D24
E23
L11
O47
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
435.28 kB





Publikationen in EconStor sind urheberrechtlich geschützt.