Incorporamos heterogeneidad empresarial en productividad dentro del marco de estimación tradicional de márgenes desarrollado por Roeger (1995) y ampliado por Crépon et al. (2005) para dar cabida a fricciones en la negociación salarial. Calculamos márgenes a escala de empresa con un panel...

This paper explores the dynamics of price-cost mark-ups using firm-level data, paying particular attention to the crisis period 2008-2011. To this end, we apply the econometric framework developed by Klette (1999) to a comprehensive sample of Spanish non-financial corporations in order to...

The observed high levels of banks’ operating effi ciency, profi ts and market values in the years before the fi nancial crisis raise reasonable doubts about the information content of conventional performance measures for the accurate assessment of the effi ciency of banking intermediation. In...