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Capital Reallocation / Andrea L. Eisfeldt, Yu Shi.
- Format:
- Book
- Author/Creator:
- Eisfeldt, Andrea L.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w25085.
- NBER working paper series no. w25085
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2018.
- Summary:
- Capital reallocation is procyclical, despite measured productive reallocative opportunities being acyclical, or even countercyclical. This paper reviews the advances in the literature studying the causes and consequences of capital reallocation (or lack thereof). We provide a comprehensive set of capital reallocation stylized facts for the US, and an illustrative model of capital reallocation in equilibrium. We relate capital reallocation to the broader literatures on business cycles with financial frictions, and on resource misallocation and aggregate productivity. Throughout, we provide directions for future research.
- Notes:
- Print version record
- September 2018.
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