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The effects of privatization and consolidation on bank productivity: comparative evidence from Italy and Germany
Fiorentino, Elisabetta; Vincenzo, Alessio De; Heid, Frank; … - Deutsche Bundesbank - 2009
directions since then: Italy privatized its publicly-owned banks while Germany has maintained a large share of state …
Persistent link: https://www.econbiz.de/10005082778
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Consumer price adjustment under the microscope: Germany in a period of low inflation
Hoffmann, Johannes; Kurz-Kim, Jeong-Ryeol - Deutsche Bundesbank - 2006
We analyse the adjustment of retail and services prices in a period of low inflation, using a set of individual price data from the German Consumer Price Index which covers the years 1998 to 2003. We strong find evidence of time- and state-dependent price adjustment. Most importantly, the...
Persistent link: https://www.econbiz.de/10005083071
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Measurement matters: Input price proxies and bank efficiency in Germany
Koetter, Michael - Deutsche Bundesbank - 2005
Most bank efficiency studies that use stochastic frontier analysis (SFA) employ each bank's own implicit input price when estimating efficient frontiers. But the theoretical foundation of most studies is a cost minimisation and/ or profit maximisation problem assuming perfect input markets. At...
Persistent link: https://www.econbiz.de/10005059002
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Modelling and measuring business risk and the resiliency of retail banks
Chaffai, Mohamed; Dietsch, Michel - Deutsche Bundesbank - 2013
The recent banking crisis has revealed the existence of strong resiliency factors in the retail banking business model. On average, retail banks suffered less than other financial institutions from unexpected market changes. This paper proposes a new methodology to measure retail banks' business...
Persistent link: https://www.econbiz.de/10010957105
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The cost efficiency of German banks: a comparison of SFA and DEA
Koetter, Michael; Karmann, Alexander; Fiorentino, Elisabetta - Deutsche Bundesbank - 2006
We investigate the consistency of efficiency scores derived with two competing frontier methods in the financial economics literature: Stochastic Frontier and Data Envelopment Analysis. We sample 34,192 observations for all German universal banks and analyze whether efficiency measures yield...
Persistent link: https://www.econbiz.de/10005082752
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Stochastic frontier analysis by means of maximum likelihood and the method of moments
Behr, Andreas; Tente, Sebastian - Deutsche Bundesbank - 2008
also discussed in relevant literature. The natural estimation method seems to be Maximum Likelihood (ML) estimation because … estimation approaches for both the half-normal and the exponential approach to inefficiency. Based on the simulation results we … obtain decision rules for the choice of the superior estimation approach. Both estimation methods, ML and MOM, are applied to …
Persistent link: https://www.econbiz.de/10005082812
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Dynamic Q-investment functions for Germany using panel balance sheet data and a new algorithm for the capital stock at replacement values
Bellgardt, Egon; Behr, Andreas - Deutsche Bundesbank - 2002
the majority in Germany. One of the key variables when using balance sheet data, which has attracted much detailed … by Gilchrist and Himmelberg. We compare the results from two different estimation techniques for dynamic investment … börsennotierte Unternehmen, die in Deutschland eindeutig dominieren. Eine zentrale Größe der Analyse des Investitionsverhaltens auf …
Persistent link: https://www.econbiz.de/10005083058
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Exploring the role of uncertainty for corporate investment decisions in Germany
von Kalckreuth, Ulf - Deutsche Bundesbank - 2000
roughly 75% of the total turnover of the west German manufacturing sector. The sample used for estimation contains 6,745 firms …
Persistent link: https://www.econbiz.de/10005083086
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Exports versus FDI in German manufacturing: firm performance and participation in international markets
Arnold, Jens Matthias; Hussinger, Katrin - Deutsche Bundesbank - 2006
This paper tests some of the predictions of recent advances in trade theory that have focused on different trade patterns of firms within the same sector. Helpman, Melitz and Yeaple (2005) develop a model in which innate productivity differences between firms determine the degree of...
Persistent link: https://www.econbiz.de/10005083169
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The Economic Impact of Venture Capital
van Pottelsberghe de la Potterie, Bruno; Romain, Astrid - Deutsche Bundesbank - 2004
This paper attempts to evaluate the macroeconomic impact of venture capital (VC). We test the assumption that VC is similar in several respects to business R&D performed by large firms and therefore contributes to economic growth through two main channels: innovation and absorptive capacity. The...
Persistent link: https://www.econbiz.de/10005083275