Why did high productivity growth of banks precede the financial crisis?
Author
Suggested Citation
Download full text from publisher
References listed on IDEAS
- Rajnish Mehra & Facundo Piguillem & Edward C. Prescott, 2011.
"Costly financial intermediation in neoclassical growth theory,"
Quantitative Economics, Econometric Society, vol. 2(1), pages 1-36, March.
- Rajnish Mehra & Facundo Piguillem & Edward C. Prescott, 2008. "Costly Financial Intermediation in Neoclassical Growth Theory," NBER Working Papers 14351, National Bureau of Economic Research, Inc.
- Rajnish Mehra & Facundo Piguillem & Edward C. Prescott, 2011. "Costly financial intermediation in neoclassical growth theory," Working Papers 685, Federal Reserve Bank of Minneapolis.
- Galo Nuño & Pedro Tedde & Alessio Moro, 2011. "Money dynamics with multiple banks of issue: evidence from Spain 1856-1874," Working Papers 1119, Banco de España.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Alfredo Martin-Oliver & Sonia Ruano & Vicente Salas-Fumas, 2013. "Banks' Equity Capital Frictions, Capital Ratios, and Interest Rates: Evidence from Spanish Banks," International Journal of Central Banking, International Journal of Central Banking, vol. 9(1), pages 183-225, March.
- Alexakis, Christos & Izzeldin, Marwan & Johnes, Jill & Pappas, Vasileios, 2019.
"Performance and productivity in Islamic and conventional banks: Evidence from the global financial crisis,"
Economic Modelling, Elsevier, vol. 79(C), pages 1-14.
- Christos Alexakis & Marwan Izzeldin & Jill Johnes & Vasileios Pappas, 2019. "Performance and productivity in Islamic and conventional banks: Evidence from the global financial crisis," Post-Print hal-02143291, HAL.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- repec:spo:wpmain:info:hdl:2441/vbu6kd1s68o6r34k5bcm3iopv is not listed on IDEAS
- Facundo Piguillem & Guillermo Ordonez, 2015.
"Retirement in the Shadow (Banking),"
2015 Meeting Papers
1200, Society for Economic Dynamics.
- Guillermo Ordoñez & Facundo Piguillem, 2019. "Retirement in the Shadow (Banking)," NBER Working Papers 26337, National Bureau of Economic Research, Inc.
- Piguillem, Facundo & Ordoñez, Guillermo, 2018. "Retirement in the Shadow (Banking)," CEPR Discussion Papers 13144, C.E.P.R. Discussion Papers.
- Guillermo Ordoñez & Facundo Piguillem, 2017. "Retirement in the Shadow (Banking)," EIEF Working Papers Series 1714, Einaudi Institute for Economics and Finance (EIEF), revised Dec 2017.
- Semyon Malamud & Andreas Schrimpf, 2016.
"Intermediation Markups and Monetary Policy Passthrough,"
Swiss Finance Institute Research Paper Series
16-75, Swiss Finance Institute.
- Andreas Schrimpf & Semyon Malamud, 2017. "Intermediation Markups and Monetary Policy Passthrough," 2017 Meeting Papers 812, Society for Economic Dynamics.
- Schrimpf, Paul & Malamud, Semyon, 2018. "Intermediation markups and monetary policy pass-through," CEPR Discussion Papers 12623, C.E.P.R. Discussion Papers.
- Thomas Philippon, 2015.
"Has the US Finance Industry Become Less Efficient? On the Theory and Measurement of Financial Intermediation,"
American Economic Review, American Economic Association, vol. 105(4), pages 1408-1438, April.
- Thomas Philippon, 2012. "Has the U.S. Finance Industry Become Less Efficient? On the Theory and Measurement of Financial Intermediation," NBER Working Papers 18077, National Bureau of Economic Research, Inc.
- Philippon, Thomas, 2014. "Has the U.S. Finance Industry Become Less Efficient? On the Theory and Measurement of Financial Intermediation," CEPR Discussion Papers 9792, C.E.P.R. Discussion Papers.
- John Beshears & James J. Choi & David Laibson & Brigitte C. Madrian & William L. Skimmyhorn, 2022.
"Borrowing to Save? The Impact of Automatic Enrollment on Debt,"
Journal of Finance, American Finance Association, vol. 77(1), pages 403-447, February.
- John Beshears & James J. Choi & David Laibson & Brigitte C. Madrian & William L. Skimmyhorn, 2019. "Borrowing to Save? The Impact of Automatic Enrollment on Debt," NBER Working Papers 25876, National Bureau of Economic Research, Inc.
- Vasco Cúrdia & Michael Woodford, 2010.
"Credit Spreads and Monetary Policy,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 42(s1), pages 3-35, September.
- Vasco Curdia & Michael Woodford, 2010. "Credit Spreads and Monetary Policy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 42(s1), pages 3-35, September.
- Vasco Cúrdia & Michael Woodford, 2009. "Credit Spreads and Monetary Policy," NBER Working Papers 15289, National Bureau of Economic Research, Inc.
- Vasco Curdia & Michael Woodford, 2009. "Credit spreads and monetary policy," Staff Reports 385, Federal Reserve Bank of New York.
- Giorgio Massari & Luca Portoghese & Patrizio Tirelli, 2024. "Whither Liquidity Shocks? Implications for R∗ and Monetary Policy," DEM Working Papers Series 217, University of Pavia, Department of Economics and Management.
- Prescott, E.C., 2016.
"RBC Methodology and the Development of Aggregate Economic Theory,"
Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 1759-1787,
Elsevier.
- Edward C. Prescott, 2016. "RBC Methodology and the Development of Aggregate Economic Theory," NBER Working Papers 22422, National Bureau of Economic Research, Inc.
- Edward Prescott, 2016. "RBC Methodology and the Development of Aggregate Economic Theory," Working Papers id:11115, eSocialSciences.
- Edward C. Prescott, 2016. "RBC Methodology and the Development of Aggregate Economic Theory," Staff Report 527, Federal Reserve Bank of Minneapolis.
- Martín-Oliver, Alfredo & Ruano, Sonia & Salas-Fumás, Vicente, 2013. "Why high productivity growth of banks preceded the financial crisis," Journal of Financial Intermediation, Elsevier, vol. 22(4), pages 688-712.
- Clément Bellet, 2017. "Essays on inequality, social preferences and consumer behavior [Inégalités, préférences sociales et comportement du consommateur]," SciencePo Working papers Main tel-03455045, HAL.
- Mattana, Elena & Panetti, Ettore, 2014.
"Bank liquidity, stock market participation, and economic growth,"
Journal of Banking & Finance, Elsevier, vol. 48(C), pages 292-306.
- MATTANA, Elena & PANETTI, Ettore, 2014. "Bank liquidity, stock market participation, and economic growth," LIDAM Reprints CORE 2639, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Jeremy Greenwood & Juan Sanchez & Cheng Wang, 2013.
"Quantifying the Impact of Financial Development on Economic Development,"
Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 16(1), pages 194-215, January.
- Jeremy Greenwood & Juan M. Sanchez & Cheng Wang, 2010. "Quantifying the Impact of Financial Development on Economic Development," NBER Working Papers 15893, National Bureau of Economic Research, Inc.
- Jeremy Greenwood & Juan M. Sanchez & Cheng Wang, 2012. "Quantifying the Impact of Financial Development on Economic Development," RCER Working Papers 572, University of Rochester - Center for Economic Research (RCER).
- Juan M. Sanchez & Cheng Wang & Jeremy Greenwood, 2011. "Quantifying the Impact of Financial Development on Economic Development," 2011 Meeting Papers 240, Society for Economic Dynamics.
- Jeremy Greenwood & Juan M. Sanchez & Cheng Wang, 2010. "Quantifying the impact of financial development on economic development," Working Paper 10-05, Federal Reserve Bank of Richmond.
- Jeremy Greenwood & Juan M. Sanchez & Cheng Wang, 2010. "Quantifying the impact of financial development on economic development," Working Papers 2010-023, Federal Reserve Bank of St. Louis.
- Jeremy Greenwood & Juan M. Sanchez & Cheng Wang, 2010. "Quantifying the Impact of Financial Development on Economic Development," Economie d'Avant Garde Research Reports 17, Economie d'Avant Garde.
- Vasco Curdia & Michael Woodford, 2010.
"Conventional and unconventional monetary policy,"
Review, Federal Reserve Bank of St. Louis, vol. 92(May), pages 229-264.
- Woodford, Michael & Cúrdia, Vasco, 2009. "Conventional and Unconventional Monetary Policy," CEPR Discussion Papers 7514, C.E.P.R. Discussion Papers.
- Vasco Curdia & Michael Woodford, 2009. "Conventional and unconventional monetary policy," Staff Reports 404, Federal Reserve Bank of New York.
- Clément Bellet, 2017. "Essays on inequality, social preferences and consumer behavior [Inégalités, préférences sociales et comportement du consommateur]," SciencePo Working papers tel-03455045, HAL.
- Kaiji Chen & Tao Zha, 2015. "Assessing the macroeconomic impact of bank intermediation shocks: a structural approach," FRB Atlanta Working Paper 2015-8, Federal Reserve Bank of Atlanta.
- Enrique Moral‐Benito, 2016.
"Growth Empirics in Panel Data Under Model Uncertainty and Weak Exogeneity,"
Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 31(3), pages 584-602, April.
- Enrique Moral-Benito, 2012. "Growth Empirics in Panel Data under Model Uncertainty and Weak Exogeneity," Working Papers 1243, Banco de España.
- Georg Man, 2015. "Bank Competition, Economic Growth, and Nonlinearity: A Nonparametric Approach," Scottish Journal of Political Economy, Scottish Economic Society, vol. 62(3), pages 310-324, July.
- Benjamin Eden, 2012. "Costly intermediation and the Friedman rule," Vanderbilt University Department of Economics Working Papers 12-00003, Vanderbilt University Department of Economics.
- Bergoeing, Raphael & Piguillem, Facundo, 2022. "Cooperatives versus traditional banks: the impact of interbank market exclusion," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), December.
- Eden, Maya, 2012. "Should Wall-Street be occupied ? an overlooked price externality of financial intermediation," Policy Research Working Paper Series 6059, The World Bank.
- Man, Georg, 2015. "Competition and the growth of nations: International evidence from Bayesian model averaging," Economic Modelling, Elsevier, vol. 51(C), pages 491-501.
More about this item
Keywords
productivity of banks; financial stability production function; IT capital; simultaneity bias;All these keywords.
JEL classification:
- D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
- G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
NEP fields
This paper has been announced in the following NEP Reports:- NEP-CBA-2012-12-22 (Central Banking)
- NEP-EFF-2012-12-22 (Efficiency and Productivity)
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bde:wpaper:1239. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Ángel Rodríguez. Electronic Dissemination of Information Unit. Research Department. Banco de España (email available below). General contact details of provider: https://edirc.repec.org/data/bdegves.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.