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This paper analyzes the link between monetary policy and capital misallocation in a New Keynesian model with heterogeneous firms and financial frictions. In the model, firms with a high return to capital increase their investment more strongly in response to a monetary policy expansion, thus...
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development. To investigate the efficiency and productivity of creating human capital, the methods of Data Envelopment Analysis … (DEA) and the Malmquist Productivity Index (MPI) are applied to the 2017 data, 2018 data, and 2020 data of the selected … decreasing return to scale. The comparison between 2018 and 2020 shows that human capital creation productivity in 2020 in …
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