Bos J.W.B.; van, Santen P.C.; Schilp P. - Graduate School of Business and Economics (GSBE), … - 2013
This paper quantifies the effect of reallocation dynamics on aggregate productivity developments in the banking sectors of Europe and the United States. We document an increase in productivity over the period 1995-2009, on the order of 11 in the US and 19 in Europe. At an annual frequency,...