This paper examines the impacts of land market frictions on resource allocation and productivity growth in manufacturing firms, leveraging the staggered repeal of the Urban Land Ceiling and Regulation Act (ULCRA) in India as a natural experiment. The …
We study the consequences of markups for long-run economic growth in a model of firm-driven endogenous technological change. In this framework, differentiated firms engage in monopolistic competition, charge heterogeneous markups, and make …
In 1976, 4% of inventors in the U.S. were women, and by 2020, that fraction had only moved up to 12%. Under the natural assumption that there are no intrinsic differences in inventive potential across genders, the scarcity of women in innovation …
We construct a measure of consumption-equivalent welfare for Black and White Americans. Our statistic incorporates life expectancy, consumption, leisure, and inequality. Based on this incomplete list of factors, welfare for Black Americans was 43% of …