We examine the consequences of imposing higher capital requirements on banks (as under Basel III or, recently, in the case of large banks in the European context) for bank dynamics in complying with the new standards and for the long-term effects on bank lending rates and the demand for bank...

This paper examines the contribution of entrepreneurs to productivity growth with data from Spanish Autonomous Communities (CA). The empirical analysis borrows from the theories that explain the existence and functions of entrepreneur as a result of division of labour when people differ in their...

Spanish banks had to set aside a countercyclical loan loss provision during the period 2000 2004. The amount of such provision as well as the allowance accumulated had to be disclosed by banks. The former creates a natural experiment to test whether banks smooth earnings to mislead investors and...

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...

This paper extends the (Lucas, Bell J Econ 9:508–523,<CitationRef CitationID="CR29">1978</CitationRef>) model of occupational choices by individuals with different skills, beyond the simple options of self-employment or wage-employment, by including a second choice for the self-employed. That is, an option to hire employees and so become...</citationref>