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Market Power, Total Factor Productivity Growth, and Structural Change. An Illustration for Spain, 1983-1996
Siotis, Georges - Banco de España - 2000
This paper analyses the evolution of total factor productivity growth and market power in Spain during the period 1983-1996. The data consists of a large firm level data set that encompasses all sectors of economic activity apart from financial institutions. The results show that traditional...
Persistent link: https://www.econbiz.de/10005590674
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Size, growth and bank dynamics
Benito, Enrique - Banco de España - 2008
This paper investigates the size distribution of the whole population of Spanish commercial, savings and cooperative banks from a dynamic perspective over the 1970 2006 period. To investigate the evolution of the size distribution, we determine whether the data satisfies the Law of Proportionate...
Persistent link: https://www.econbiz.de/10005155206
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How Does Competition Impact Bank Risk-Taking?
Jiménez, Gabriel; Lopez, Jose A.; Saurina, Jesús - Banco de España - 2010
A common assumption in the academic literature is that franchise value plays a key role in limiting bank risk-taking. As market power is the primary source of franchise value, reduced competition in banking markets has been seen as promoting banking stability. We test this hypothesis using data...
Persistent link: https://www.econbiz.de/10008478833
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Productivity and welfare: an application to the Spanish banking industry
Oliver, Alfredo Martín; Pardo, Sonia Ruano; Fumás, … - Banco de España - 2014
models spatial price competition between bank branches jointly with banks’ decisions on the opening or closing of branches …
Persistent link: https://www.econbiz.de/10010941711
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Where is the value in high frequency trading?
Cartea, Álvaro; Penalva, José - Banco de España - 2011
: liquidity traders, market makers, and high frequency traders. Our four main findings are: i) The price impact of the liquidity …
Persistent link: https://www.econbiz.de/10009024145
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Financial governance of banking supervision
Masciandaro, Donato; Nieto, María J.; Prast, Henriëtte - Banco de España - 2007
This article analyses the economics of financing banking supervision and attempts to respond to two questions: What are the most common financing practices? Can the differences in current financing practices be explained by country specific factors? We perform an empirical analysis that...
Persistent link: https://www.econbiz.de/10005022297
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Assessing the risk-return trade-off in loans portfolios
Mencía, Javier - Banco de España - 2009
This paper analyses the risk and return of loans portfolios in a joint setting. I develop a model to obtain the distribution of loans returns. I use this model to describe the investment opportunity set of lenders using mean-variance analysis with a Value at Risk constraint. I also obtain closed...
Persistent link: https://www.econbiz.de/10004969766
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What explains the low profitability of Chinese banks?
García-Herrero, Alicia; Gavilá, Sergio; … - Banco de España - 2009
This paper analyzes empirically what explains the low profitability of Chinese banks for the period 1997-2004. We find … deposits and for more X-efficient banks. In addition, a less concentrated banking system increases bank profitability, which …’s profitability. We find the same negative influence for China’s development banks (so called Policy Banks), which are fully state …
Persistent link: https://www.econbiz.de/10004969781
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Dilatoriness of the banking enterprise debt in Spain, 1992-2003
Ruano-Pardo, Sonia; Salas-Fumás, Vicente - Banco de España - 2006
This paper analyses the determinants of the default ratio associated to banking debt in Spanish non financial firms over the period 1992-2003. It studies the factors influencing firms' entering and exit processes in and out from the default status. Additionally, it explores the factors...
Persistent link: https://www.econbiz.de/10005590729
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Credit supply: identifying balance-sheet channels with loan applications and granted loans
Jiménez, Gabriel; Ongena, Steven; Peydró, José-Luis; … - Banco de España - 2010
To identify credit availability we analyze the extensive and intensive margins of lending with loan applications and all loans granted in Spain. We find that during the period analyzed both worse economic and tighter monetary conditions reduce loan granting, especially to firms or from banks...
Persistent link: https://www.econbiz.de/10008676892