impact of monetary policy on capital misallocation through its heterogeneous effects on firms. Using Spanish firm-level data … covering the period 1999-2019, we show that an expansionary monetary policy shock leads to a decrease in capital misallocation … mechanism behind this finding, we first explore the intensive margin and show that high-MRPK firms increase their investment and …

estimation accuracy on the solution of marketing allocation problems conditional on the number of observations. Is there a …

the determinants of telecommunications investments and presents two possible solutions to the investment problem. The …

Neoclassical analysis of the labor market and its institutions. A systematic development of the theory of labor supply …

misallocation of labor ranging from 2 to 10 percent of total labor costs, for an increase in the index of labor regulation from the …

factors across firms was at the root of the low TFP growth in Spain, while misallocation across sectors played only a minor … role. We show that within-industry misallocation of production factors increased substantially over the period in all … technological frontier. Cross-industry variation reveals that the increase in misallocation was more severe in sectors where the …

the 1995-2007 period was characterized by the remarkable surge in employment and investment as well as the dismal … accumulation of labor and capital. Also, the deterioration in the allocation of resources across firms is the main responsible of … the fall in aggregate productivity. The allocation of credit across firms and municipalities, the softening of banks …

empirically investigates the impact of local house price booms on capital misallocation within manufacturing industries. Using the … positive local house price shocks received more credit from banks and their investment grew more intensively when they had a …