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UID:96287cafd8ca04a5553bc4ea07ef6fbc
CATEGORIES:Seminars
CREATED:20250930T072954
SUMMARY:Kjetil Storesletten - University of Minnesota
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:\n\nChina's Economic Slowdown: A Firm-Level Perspective\n\n\nAbstract:\nThi
 s paper develops a new representative firm-level dataset for Chinese manufa
 cturing from 1998 to 2019 by combining tax, registry, and inspection record
 s and correcting for sampling biases in existing administrative data. Using
  a CES production framework with firm-specific distortions, the paper disti
 nguishes labor-augmenting from Hicks-neutral productivity growth and introd
 uces a novel decomposition of aggregate TFP growth into efficient growth an
 d changes in misallocation. The analysis documents a sharp slowdown in Chin
 ese manufacturing productivity growth after 2007, driven both by weaker inc
 umbent-firm productivity growth and by a diminished contribution from firm 
 turnover and reallocation. Before 2007, rapid productivity growth reflected
  declining misallocation over firms’ life cycles, especially among young fi
 rms. After 2011, however, distortions affecting new firms dissipated much m
 ore slowly, leading to persistent misallocation and substantially lower agg
 regate TFP growth.\n
DTSTAMP:20260624T182345Z
DTSTART:20260525T163000Z
DTEND:20260525T180000Z
SEQUENCE:0
TRANSP:OPAQUE
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