Financial Frictions, Trade, and Misallocation
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This paper studies the effects of the capital controls imposed by Chile between 1991 and 1998, i.e. the Chilean encaje, on firms' production, investment ...
Capital-skill complementarity in production implies non-trivial interactions between availability of human capital and financial constraints. Firms that ...
This paper studies the role of capital specificity and investment irreversibility on the distribution of marginal products of capital and aggregate TFP. ...