Endogenous Rigidities and Capital Misallocation: Evidence from Containerships

We thank the editor, five referees, and Rob Clark, Matt Gentry, Lutz Kilian, Nick Kuminoff, Alvin Murphy, and Daniel Xu, for helpful comments. We also thank Nicholas Buchholz, Kevin Williams, and Joris Hoste, for discussing the paper. Finally, thank you to audiences at numerous seminars and conferences. The views in this paper are those of the authors and do not necessarily reflect the views of the Federal Reserve Bank of Dallas or the Federal Reserve System. Any errors or omissions are the responsibility of the authors. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.