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would be wrong and (ii) how revenue and cost efficiencies contribute to profit efficiency. Using data from U.S. commercial ….5% is due to revenue inefficiency and 4.7% to cost inefficiency. Cost efficiency weighs more than revenue efficiency in … estimated profit efficiency. However, compared with cost inefficiency, revenue inefficiency affects more overall profitability …
Persistent link: https://www.econbiz.de/10013059150
Purpose - This paper investigates the development of efficiency and the progress of banking integration in the European … bootstrap DEA method, which absorbs the effects of possible integration barriers in the measurement of efficiency. Afterwards … for convergent clusters in banking efficiency. Findings - Our main findings show that the bank efficiency of the US is …
Persistent link: https://www.econbiz.de/10012887337
We develop an econometric methodology to infer the path of risk premia from large unbalanced panel of individual stock returns. We estimate the time-varying risk premia implied by conditional linear asset pricing models where the conditioning includes instruments common to all assets and asset...
Persistent link: https://www.econbiz.de/10009313026
Using a novel dataset for the US states, this paper examines whether household debt and the protracted debt deleveraging help explain the dismal performance of US consumption since 2007, in the aftermath of the housing bubble. By separating the concepts of deleveraging and debt overhang - a flow...
Persistent link: https://www.econbiz.de/10011408704
The balance sheet adjustment in the household sector was a prominent feature of the Great Recession that is widely believed to have held back the cyclical recovery of the US economy. A key question for the US outlook is therefore whether household deleveraging has ended or whether further...
Persistent link: https://www.econbiz.de/10013058652
Using a novel dataset for the US states, this paper examines whether household debt and the protracted debt deleveraging help explain the dismal performance of US consumption since 2007 in the aftermath of the housing bubble. By separating the concepts of deleveraging and debt overhang -- a flow...
Persistent link: https://www.econbiz.de/10013016939
Today, the problem facing the United States is not whether cryptocurrencies are money or “thin air,” Iran's nuclear ambition, or COVID-19 induced recession; it is China's fast acceleration in becoming a game changer in the world order that the U.S. has dominated for more than a century....
Persistent link: https://www.econbiz.de/10012825152
Over three decades, contemporaneous crises have collectively cost the world’s economies $30 trillion. The advent of Internet has transfigured commerce that resulted in exponential surges in online sales, this fostered money’s evolution into cryptocurrency. The mysterious Satoshi Nakamoto...
Persistent link: https://www.econbiz.de/10014352358
The US banking industry offers a unique, natural and fertile environment to study geography's effects on banks' behavior and performance. The literature on banks' operating performance, while extensive, says little about the influence of spatial interactions on banks' performance. We compute and...
Persistent link: https://www.econbiz.de/10008938606
Using a unique data set based on US commercial banks and county level loan origination for the period 2005-2010, we measure whether banks that benefited from the Troubled Asset Relief Program (TARP) increase small business loan originations. We propose an identification strategy which exploits...
Persistent link: https://www.econbiz.de/10011410414