Papers written by Author(s): 'Chang-Tai Hsieh'
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Working PaperThe Industrial Revolution in Services
October 2021
Working Paper Number:
CES-21-34
The U.S. has experienced an industrial revolution in services. Firms in service industries, those where output has to be supplied locally, increasingly operate in more markets. Employment, sales, and spending on fixed costs such as R&D and managerial employment have increased rapidly in these indust...View Full Paper PDF
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Working PaperThe Reallocation Myth
April 2018
Working Paper Number:
CES-18-19
There is a widely held view that much of growth in the U.S. can be attributed to reallocation from low to high productivity firms, including from exiting firms to entrants. Declining dynamism ' falling rates of reallocation and entry/exit in the U.S. ' have therefore been tied to the lackluster grow...View Full Paper PDF
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Working PaperHow Destructive is Innovation?
January 2017
Working Paper Number:
CES-17-04
Entrants and incumbents can create new products and displace the products of competitors. Incumbents can also improve their existing products. How much of aggregate productivity growth occurs through each of these channels? Using data from the U.S. Longitudinal Business Database on all non-farm priv...View Full Paper PDF
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Working PaperAccounting for the New Gains from Trade Liberalization
March 2016
Working Paper Number:
CES-16-14
We measure the "new" gains from trade reaped by Canada as a result of the Canada-US Free Trade Agreement (CUSFTA). We think of the "new" gains from trade of a country as all welfare effects pertaining to changes in the set of firms serving that country as emphasized in the so-called "new" trade lite...View Full Paper PDF
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Working PaperMisallocation and Manufacturing TFP in China and India
February 2009
Working Paper Number:
CES-09-04
Resource misallocation can lower aggregate total factor productivity (TFP). We use micro data on manufacturing establishments to quantify the potential extent of misallocation in China and India compared to the U.S. Compared to the U.S., we measure sizable gaps in marginal products of labor and capi...View Full Paper PDF
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