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Consolidating the Water Industry: An Analysis of the Potential Gains from Horizontal Integration in a Conditional Efficiency Framework

Zschille, Michael - C.E.P.R. Discussion Papers - 2012

efficiency improvements through consolidation. Focusing on a hypothetical restructuring of the industry, we apply Data … Envelopment Analysis (DEA) to analyze the potential efficiency gains from mergers between water utilities at the county level. A … conditional efficiency framework is used to account for the operating environment. Highest efficiency improvement potentials turn …

Persistent link: https://www.econbiz.de/10011083827

Industries at the World Technology Frontier: Measuring R&D Efficiency in a Non-Parametric DEA Framework

Schmidt-Ehmcke, Jens; Zloczysti, Petra - C.E.P.R. Discussion Papers - 2011

the most efficient innovation processes. We combine a traditional nonparametric frontier approach with super-efficiency … and tests for return to scale properties using bootstrap procedures to derive consistent and robust efficiency estimates … Denmark have the highest R&D efficiency on average in total manufacturing. However, sector-specific efficiency scores reveal …

Persistent link: https://www.econbiz.de/10009321843

R&D Efficiency and Barriers to Entry: A Two Stage Semi-Parametric DEA Approach

Cullmann, Astrid; Schmidt-Ehmcke, Jens; Zloczysti, Petra - C.E.P.R. Discussion Papers - 2010

This paper assesses the relative efficiency of knowledge production in the OECD using a nonparametric DEA approach. In … constraints. The efficiency scores presented are based on an intertemporal frontier estimation for the period 1995 to 2004. We …&D efficiency by attenuating the incentives to innovate and to allocate resources efficiently. …

Persistent link: https://www.econbiz.de/10008684686

German Bank Lending During Financial Crises: A Bank Level Analysis

Heid, Frank; Nestmann, Thorsten; Von Westernhagen, Natalja - C.E.P.R. Discussion Papers - 2005

This paper studies German bank lending during the Asian and Russian crises, using a bank level data set from the Deutsche Bundesbank. Our aim is to gain more insight into the pattern of German bank lending during financial crises in emerging markets. We find that German banks reacted to the...

Persistent link: https://www.econbiz.de/10005504386

Multiple Lenders and Corporate Distress: Evidence on Debt Restructuring

Brunner, Antje; Krahnen, Jan Pieter - C.E.P.R. Discussion Papers - 2004

In the recent theoretical literature on lending risk, the common pool problem in multi-bank relationships has been analysed extensively. In this Paper we address this topic empirically, relying on a unique panel dataset that includes detailed credit-fie information on distressed lending...

Persistent link: https://www.econbiz.de/10005504452

Shocks to Bank Lending, Risk-Taking, Securitization, and their Role for U.S. Business Cycle Fluctuations

Peersman, Gert; Wagner, Wolf - C.E.P.R. Discussion Papers - 2015

Shocks to bank lending, risk-taking and securitization activities that are orthogonal to real economy and monetary policy innovations account for more than 30 percent of U.S. output variation. The dynamic effects, however, depend on the type of shock. Expansionary securitization shocks lead to a...

Persistent link: https://www.econbiz.de/10011262887

Monetary Policy and Bank Lending Rates in Low-Income Countries: Heterogeneous Panel Estimates

Mishra, Prachi; Montiel, Peter J; Pedroni, Peter; … - C.E.P.R. Discussion Papers - 2014

This paper studies the transmission of monetary shocks to lending rates in a large sample of advanced, emerging, and low-income countries. Transmission is measured by the impulse response of bank lending rates to monetary policy shocks. Long-run restrictions are used to identify such shocks....

Persistent link: https://www.econbiz.de/10011083597

Banks Exposure to Interest Rate Risk and The Transmission of Monetary Policy

Landier, Augustin; Sraer, David; Thesmar, David - C.E.P.R. Discussion Papers - 2014

We show that banks' cash flow exposure to interest rate risk, or income gap, plays a crucial role in their lending behavior following monetary policy shocks. In a first step, we show that the sensitivity of bank profits to interest rates increases significantly with their income gap, even when...

Persistent link: https://www.econbiz.de/10011145414

Bank Lending and Property Prices in Hong Kong

Gerlach, Stefan; Peng, Wensheng - C.E.P.R. Discussion Papers - 2004

This Paper studies the relationship between residential property prices and lending in Hong Kong. This is an interesting topic for three reasons. First, swings in property prices have been extremely large and frequent in Hong Kong. Second, under the currency board regime, monetary policy cannot...

Persistent link: https://www.econbiz.de/10005661824

Financial Distress and Bank Restructuring of Small to Medium Size UK Companies

Franks, Julian R; Sussman, Oren - C.E.P.R. Discussion Papers - 2003

We use a unique data set to analyse how UK banks deal with small to medium size distressed firms both inside and outside bankruptcy. The approach to bankruptcy is contract-based, with lenders and borrowers relying on procedures written into the debt contract, and where the courts are largely...

Persistent link: https://www.econbiz.de/10005788979

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