Bolt, Wilko; de Haan, Leo; Hoeberichts, Marco; Oordt, … - In: Journal of Banking & Finance 36 (2012) 9, pp. 2552-2564
This paper contributes to the literature on the relation between bank profitability and economic activity. When allowing for stronger co-movement of bank profit with economic activity during deep recessions, we find a much larger impact of output growth on bank profitability than commonly found...