Replication data for: Misallocation and Growth

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Project Citation:

Jovanovic, Boyan. Replication data for: Misallocation and Growth. Nashville, TN: American Economic Association [publisher], 2014. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-11. https://doi.org/10.3886/E112753V1

Project Description

Summary: This paper models growth via on-the-job learning when firms and workers are heterogeneous. It is an overlapping generations model in which young agents match with the old. More efficient assignments lead to faster long-run growth, more inequality, and less turnover in the distribution of human capital. Constant-growth paths are characterized for general functional forms and then, for the Cobb-Douglas case, the transition dynamics are solved analytically when the skill of the young is log-normally distributed and the initial human capital of the old generation is also log-normal. Growth and inequality move together on the transition to the balanced growth path.

Scope of Project

JEL Classification:
      D83 Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
      J24 Human Capital; Skills; Occupational Choice; Labor Productivity
      J31 Wage Level and Structure; Wage Differentials
      J41 Labor Contracts

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V1 [2019-10-11]

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