• Richard Hornbeck


Who Benefits From Productivity Growth? The Local and Aggregate Impacts of Local TFP Shocks on Wages, Rents, and Inequality. Richard Hornbeck, May 2015, Paper. "We estimate who benefits from local productivity growth. We begin by using confidential plant-level data to calculate changes in manufacturing productivity by United States metropolitan areas (MSAs), and then predict changes in MSA productivity based on MSAs’ initial industry shares and subsequent national changes in productivity by industry. We find that local productivity growth benefits local landowners more than local workers, in percentage terms..." Link