Albrizio, Silvia; González, Beatriz; Khametshin, Dmitry
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 …