Resource Misallocation in European Firms: The Role of Constraints, Firm Characteristics and Managerial Decisions
NBER Working Paper No. 24444
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We thank Albert Park and seminar participants in Bristol and at the 2018 ASSA meeting (Philadelphia), the CompNet 7th Annual Conference (Halle) and the conference “Investment in the new monetary and financial environment” (Paris) for helpful comments. In preparing this paper, Yuriy Gorodnichenko and Jan Svejnar worked under a grant from the European Investment Bank. The views expressed herein are those of the authors and do not necessarily reflect the views of the European Investment Bank or the National Bureau of Economic Research.