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Misallocation and Growth-AER-201404.pdf
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资源配置不当与经济增长（Misallocation and Growth，英文论文）
By Boyan Jovanovic*
Abstract
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.
AER论文，2014年第4期。
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