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UID:96287cafd8ca04a5553bc4ea07ef6fbc
CATEGORIES:Seminars
CREATED:20250930T072954
SUMMARY:Kjetil Storesletten - University of Minnesota
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:<p><strong>China's Economic Slowdown: A Firm-Level Perspective</strong></p>
 <p>Abstract:</p><p style="text-align: justify;">This paper develops a new r
 epresentative firm-level dataset for Chinese manufacturing from 1998 to 201
 9 by combining tax, registry, and inspection records and correcting for sam
 pling biases in existing administrative data. Using a CES production framew
 ork with firm-specific distortions, the paper distinguishes labor-augmentin
 g from Hicks-neutral productivity growth and introduces a novel decompositi
 on of aggregate TFP growth into efficient growth and changes in misallocati
 on. The analysis documents a sharp slowdown in Chinese manufacturing produc
 tivity growth after 2007, driven both by weaker incumbent-firm productivity
  growth and by a diminished contribution from firm turnover and reallocatio
 n. Before 2007, rapid productivity growth reflected declining misallocation
  over firms’ life cycles, especially among young firms. After 2011, however
 , distortions affecting new firms dissipated much more slowly, leading to p
 ersistent misallocation and substantially lower aggregate TFP growth.</p>
DTSTAMP:20260624T023607Z
DTSTART:20260525T163000Z
DTEND:20260525T180000Z
SEQUENCE:0
TRANSP:OPAQUE
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