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The influence of risk-taking on bank efficiency : evidence from Colombia
Sarmiento, Miguel; Galán Camacho, Jorge E. - 2015
efficiency and distinguishes the effects among banks with different characteristics. The model is fitted to a 10-year sample of … Colombian banks. Cost and profit efficiency are found to be over and underestimated, respectively, when risk measures are … omitted or are not accurately modelled. Moreover, the magnitudes at which similar levels of risk affect bank efficiency vary …
Persistent link: https://www.econbiz.de/10012530496
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14.661 Labor Economics I, Fall 2006
Pischke, Jorn-Steffen; Angrist, Joshua - 2006
Neoclassical analysis of the labor market and its institutions. A systematic development of the theory of labor supply …
Persistent link: https://www.econbiz.de/10009432547
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CCP Estimation of Dynamic Discrete Choice Models with Unobserved Heterogeneity
Arcidiacono, Peter; Miller, Robert A - 2008
We adapt the Expectation-Maximization (EM) algorithm to incorporate unobserved hetero- geneity into conditional choice probability (CCP) estimators of dynamic discrete choice problems. The unobserved heterogeneity can be time-invariant, fully transitory, or follow a Markov chain. By exploiting...
Persistent link: https://www.econbiz.de/10009441098
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Consumers WTP for Wine with Certified Origin: Latent Classes Based on Attitudinal Responses
Scarpa, Riccardo; Thiene, Mara; Galletto, Luigi - 2006
This paper investigates preference heterogeneity of wine consumers by using latent class models based onattitudinal questions. Such responses turn out to be an important source of additional information when the goalis to identify different groups of people with a similar wine preference...
Persistent link: https://www.econbiz.de/10009443205
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Nonparametric Identification and Estimation of Finite Mixture Models of Dynamic Discrete Choices
Kasahara, Hiroyuko; Shimotsu, Katsumi - 2006
In dynamic discrete choice analysis, controlling for unobserved heterogeneity is an important issue, and finite mixture models provide flexible ways to account for unobserved heterogeneity. This paper studies nonparametric identifiability of type probabilities and type-specific component...
Persistent link: https://www.econbiz.de/10009447271
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Credit History and the Performance of Prime and Nonprime Mortgages
Pennington-Cross, Anthony - 2003
Although nonprime lending has experienced steady or even explosive growth over the last decade very little is known about the performance characteristics of these mortgages. Using data from national secondary market institutions, this paper estimates a competing risks proportional hazard model,...
Persistent link: https://www.econbiz.de/10009484535
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Omitted variables in the measure of a labour quality index : the case of Spain
Lacuesta Gabarain, Aitor; Puente Díaz, Sergio; … - 2008
Traditional measures of labour quality might have the shortcoming of missing some features of the very important increase in labour utilization within European countries. In particular, we explore the case of Spain. Despite showing one of the most important increases in labour quality in the EU...
Persistent link: https://www.econbiz.de/10012530232
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Oil prices and their effect on potential output
Estrada García, Angel; Hernández de Cos, Pablo - 2009
Despite the relevance in terms of policy, we still know little in Spain about where and by whom jobs are created, and how that is affecting the size distribution of firms. The main innovation of this paper is to use a rich database that overcomes the problems encountered by other firm-level...
Persistent link: https://www.econbiz.de/10012529544
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Price-cost mark-ups in the Spanish economy : a microeconomic perspective
Montero Montero, José Manuel; Urtasun Amann, Alberto - 2014
This paper explores the dynamics of price-cost mark-ups using firm-level data, paying particular attention to the crisis period 2008-2011. To this end, we apply the econometric framework developed by Klette (1999) to a comprehensive sample of Spanish non-financial corporations in order to...
Persistent link: https://www.econbiz.de/10012530366
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Why did high productivity growth of banks preced the financial crisis?
Martín Oliver, Alfredo; Ruano Pardo, Sonia; Salas … - 2012
The observed high levels of banks’ operating effi ciency, profi ts and market values in the years before the fi nancial crisis raise reasonable doubts about the information content of conventional performance measures for the accurate assessment of the effi ciency of banking intermediation. In...
Persistent link: https://www.econbiz.de/10012530402