Narrow search
Showing 1 - 10 of 82
Cover Image
Estimation and Inference in Short Panel Vector Autoregressions with Unit Roots and Cointegration
Binder, Michael; Hsiao, Cheng; Pesaran, M. Hashem - Banco de España - 2000
This paper considers estimation and inference in panel vector autoregressions with fixed effects when the time dimension of the panel is finite, and the cross-sectional dimension is large. A Maximum Likelihood estimator based on a transformed likelihood function is proposed and shown to be...
Persistent link: https://www.econbiz.de/10005590707
Cover Image
What makes a high-growth firm? A probit analysis using Spanish firm-level data.
López-García, Paloma; Puente, Sergio - Banco de España - 2009
Many studies have established that a small number of firms, known as fast-growth firms or Gazelles, create most of the new jobs. In spite of the importance of this topic from a policy-point of view, most of those studies are descriptive and limited to a comparison of the characteristics of the...
Persistent link: https://www.econbiz.de/10005077837
Cover Image
Financing obstacles and growth: An analysis for euro area non-financial corporations
Coluzzi, Chiara; Ferrando, Annalisa; … - Banco de España - 2009
This paper investigates whether financial obstacles, and, more generally, financial pressure faced by firms, significantly affect firm growth. For this purpose, we use an unbalanced panel of about 1,000,000 observations for around 155,000 non-financial corporations in five euro area countries....
Persistent link: https://www.econbiz.de/10005155305
Cover Image
Business demography in Spain: determinants of firm survival
López-García, Paloma; Puente, Sergio - Banco de España - 2006
Bank of Spain. We study the determinants of new firm survival using non parametric and parametric procedures especially …
Persistent link: https://www.econbiz.de/10005088298
Cover Image
Firm productivity dynamics in Spain
López-García, Paloma; Puente, Sergio; Gómez, Ángel Luis - Banco de España - 2007
We have constructed a new database aimed at the study of the relation between firm demography and labour productivity, with a large number of Spanish firms from both industry and service sectors. This database allows us to analyze in detail the degree of dispersion and persistence of...
Persistent link: https://www.econbiz.de/10005088324
Cover Image
Firm size and judicial efficacy: Evidence for the civil procedures in Spain
García-Posada, Miguel; Mora-Sanguinetti, Juan S. - Banco de España - 2013
The literature has found that the size of firms matters for innovation and productivity and, thus, for economic performance. It is therefore worth explaining why enterprises in Spain are small in international terms. Our findings indicate that the quality of the institutional environment plays a...
Persistent link: https://www.econbiz.de/10010678675
Cover Image
Why did high productivity growth of banks precede the financial crisis?
Martín-Oliver, Alfredo; Ruano, Sonia; Salas-Fumás, Vicente - Banco de España - 2012
The observed high levels of banks’ operating efficiency, profi ts and market values in the years before the financial crisis raise reasonable doubts about the information content of conventional performance measures for the accurate assessment of the efficiency of banking intermediation. In...
Persistent link: https://www.econbiz.de/10010862248
Cover Image
Measuring bank competition in China: A comparison of new versus conventional approaches applied to loan markets
Xu, Bing; Rixtel, Adrian van; Leuvensteijn, Michiel van - Banco de España - 2014
. Many empirical studies suggest that financial reform promoted bank competition in most mature and emerging economies …. However, some earlier studies that adopted conventional approaches to measure competition concluded that bank competition in … specifications and estimation methods. All in all, our analysis suggests that bank lending markets in China have been more …
Persistent link: https://www.econbiz.de/10010862252
Cover Image
The distribution of debt across euro area countries: the role of individual characteristics, institutions and credit conditions
Bover, Olympia; Casado, Jose Maria; Villanueva, Ernesto; … - Banco de España - 2013
The aim of this paper is twofold. First, we present an up-to-date assessment of the differences across euro area countries in the distributions of various measures of debt conditional on household characteristics. We consider three different outcomes: the probability of holding debt, the amount...
Persistent link: https://www.econbiz.de/10010862266
Cover Image
The effect of foreclosure regulation: Evidence for the US mortgage market at state level
Vicente, Fernando López - Banco de España - 2013
Do laws to protect borrowers curb foreclosures? This question is addressed by analysing the impact of foreclosure laws on default rates at state level in the US mortgage market. Using panel data techniques, we find a statistically significant effect of regulation on the different stages of the...
Persistent link: https://www.econbiz.de/10010862277