This paper examines the transmission of productivity differences among banks and of industry productivity growth over time to lower (higher) interest rates of loans (deposits) and higher customer accessibility to bank services. For this purpose, it models spatial competition in retail banking...

Spanish Abstract: Este trabajo muestra la evolución del beneficio, inversión y endeudamiento para el agregado de las sociedades no financieras (SNF) en España durante los años 2006-2013, a partir de la información contenida en las cuentas de sociedades no financieras de Contabilidad...

Membership of the Eurozone benefited the corporate and other institutional sectors of the Spanish economy in the form of lower interest rates that boosted a period of high corporate investment and growth. The financial crises interrupted the growth process and the Spanish economy has gone...

This paper provides evidence on the determinants of the diversification status as well as the extent of diversification for Spanish non-life insurers in the period 2000-2007. Operating efficiency, risk pooling, internal capital markets, conflict of interests and external markets control are the...

This paper examines the links between productivity and social welfare, with an application to the banking industry. It models spatial price competition between bank branches jointly with banks' decisions on the opening or closing of branches based on profit expectations. The model predicts that...

This paper documents the aggregated performance of non-financial corporations in the largest euro area economies and compares it with the performance of the US corporate sector as reported by National Economic Accounts and Financial Accounts. We find significant cross-country structural...

This paper examines the contribution of investments in Information Technology (IT) and in advertising to the output and profits of Spanish banks, in the period 1983-2003. We find that the growth in the stock of IT capital explains one third of output growth of banks, and that an additional...

We model workers and shareholders contracting for joint production when investment in knowledge is non-verifiable and resulting transaction specific human capital, embedded in the workers, is non tradable. The model provides sufficient conditions for workers' becoming stakeholders of the firm...