LEADER 05078oam 22012734 450 001 9910155014203321 005 20250426110040.0 010 $a9781475554069 010 $a1475554060 010 $a9781475554120 010 $a1475554125 035 $a(CKB)3710000000973023 035 $a(MiAaPQ)EBC4867561 035 $a(Au-PeEL)EBL4867561 035 $a(CaPaEBR)ebr11391085 035 $a(CaONFJC)MIL974477 035 $a(OCoLC)965718084 035 $a(IMF)WPIEA2016220 035 $aWPIEA2016220 035 $a(EXLCZ)993710000000973023 100 $a20020129d2016 uf 0 101 0 $aeng 135 $aurcnu|||||||| 181 $2rdacontent 182 $2rdamedia 183 $2rdacarrier 200 12$aA Tale of Two Sectors : $eWhy is Misallocation Higher in Services than in Manufacturing? /$fDaniel Dias, Christine Richmond, Carlos Robalo Marques 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2016. 215 $a1 online resource (50 pages) $cillustrations (some color), tables 225 1 $aIMF Working Papers 311 08$a9781475553796 311 08$a147555379X 320 $aIncludes bibliographical references. 330 3 $aRecent empirical studies document that the level of resource misallocation in the service sector is significantly higher than in the manufacturing sector. We quantify the importance of this difference and study its sources. Conservative estimates for Portugal (2008) show that closing this gap, by reducing misallocation in the service sector to manufacturing levels, would boost aggregate gross output by around 12 percent and aggregate value added by around 31 percent. Differences in the effect and size of productivity shocks explain most of the gap in misallocation between manufacturing and services, while the remainder is explained by differences in firm productivity and age distribution. We interpret these results as stemming mainly from higher output price rigidity, greater labor adjustment costs and more informality in the service sector. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2016/220 606 $aService industries$zPortugal 606 $aManufacturing industries$zPortugal 606 $aMacroeconomics$2imf 606 $aIndustries: Manufacturing$2imf 606 $aIndustries: Service$2imf 606 $aProduction and Operations Management$2imf 606 $aProduction$2imf 606 $aCost$2imf 606 $aCapital and Total Factor Productivity$2imf 606 $aCapacity$2imf 606 $aMacroeconomic Analyses of Economic Development$2imf 606 $aOne, Two, and Multisector Growth Models$2imf 606 $aMeasurement of Economic Growth$2imf 606 $aAggregate Productivity$2imf 606 $aCross-Country Output Convergence$2imf 606 $aIndustry Studies: Services: General$2imf 606 $aMacroeconomics: Production$2imf 606 $aIndustry Studies: Manufacturing: General$2imf 606 $aLabor Economics: General$2imf 606 $aManufacturing industries$2imf 606 $aLabour$2imf 606 $aincome economics$2imf 606 $aServices sector$2imf 606 $aTotal factor productivity$2imf 606 $aProductivity$2imf 606 $aManufacturing$2imf 606 $aLabor$2imf 606 $aEconomic sectors$2imf 606 $aService industries$2imf 606 $aIndustrial productivity$2imf 606 $aLabor economics$2imf 606 $aIncome economics$2imf 607 $aPortugal$2imf 615 0$aService industries 615 0$aManufacturing industries 615 7$aMacroeconomics 615 7$aIndustries: Manufacturing 615 7$aIndustries: Service 615 7$aProduction and Operations Management 615 7$aProduction 615 7$aCost 615 7$aCapital and Total Factor Productivity 615 7$aCapacity 615 7$aMacroeconomic Analyses of Economic Development 615 7$aOne, Two, and Multisector Growth Models 615 7$aMeasurement of Economic Growth 615 7$aAggregate Productivity 615 7$aCross-Country Output Convergence 615 7$aIndustry Studies: Services: General 615 7$aMacroeconomics: Production 615 7$aIndustry Studies: Manufacturing: General 615 7$aLabor Economics: General 615 7$aManufacturing industries 615 7$aLabour 615 7$aincome economics 615 7$aServices sector 615 7$aTotal factor productivity 615 7$aProductivity 615 7$aManufacturing 615 7$aLabor 615 7$aEconomic sectors 615 7$aService industries 615 7$aIndustrial productivity 615 7$aLabor economics 615 7$aIncome economics 676 $a338.4 700 $aDias$b Daniel$061147 701 $aRichmond$b Christine$01451131 701 $aRobalo Marques$b Carlos$01451132 801 0$bDcWaIMF 906 $aBOOK 912 $a9910155014203321 996 $aA Tale of Two Sectors$93651004 997 $aUNINA