A dynamic general equilibrium model with technological innovations in the banking sector
Autor(a) principal: | |
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Data de Publicação: | 2003 |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10071/18137 |
Resumo: | We use a dynamic general equilibrium model where banks are treated as profit maximizing firms. We examine the behavior of the model when there are technological innovations that are specific to the banking industry as well as technological innovations in nonbank firms. In a stochastic simulation experiment where the technological shocks in banks and the technological shocks in nonbank firms are identical and perfectly correlated, we are able to approximately replicate the contemporaneous correlation between banks' investment and real output and the contemporaneous correlation between work hours in banks and real output that we see in the data. With one exception, the correlations between banks' investment and the past and future values of real output that we obtained with our model have the same sign as in the data. With two exceptions, the correlations between work hours in banks and the past and future values of real output that we obtained have the same sign as in the data. |
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A dynamic general equilibrium model with technological innovations in the banking sectorDynamic general equilibriumBanking industrySectoral shocksAllocation of capital and work hours between sectorsWe use a dynamic general equilibrium model where banks are treated as profit maximizing firms. We examine the behavior of the model when there are technological innovations that are specific to the banking industry as well as technological innovations in nonbank firms. In a stochastic simulation experiment where the technological shocks in banks and the technological shocks in nonbank firms are identical and perfectly correlated, we are able to approximately replicate the contemporaneous correlation between banks' investment and real output and the contemporaneous correlation between work hours in banks and real output that we see in the data. With one exception, the correlations between banks' investment and the past and future values of real output that we obtained with our model have the same sign as in the data. With two exceptions, the correlations between work hours in banks and the past and future values of real output that we obtained have the same sign as in the data.Springer Verlag2019-05-24T13:42:28Z2003-01-01T00:00:00Z20032019-05-24T14:41:30Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10071/18137eng0931-865810.1007/s00712-002-0591-4Leão, E. R.info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-11-09T17:40:39Zoai:repositorio.iscte-iul.pt:10071/18137Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T22:18:49.233314Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
A dynamic general equilibrium model with technological innovations in the banking sector |
title |
A dynamic general equilibrium model with technological innovations in the banking sector |
spellingShingle |
A dynamic general equilibrium model with technological innovations in the banking sector Leão, E. R. Dynamic general equilibrium Banking industry Sectoral shocks Allocation of capital and work hours between sectors |
title_short |
A dynamic general equilibrium model with technological innovations in the banking sector |
title_full |
A dynamic general equilibrium model with technological innovations in the banking sector |
title_fullStr |
A dynamic general equilibrium model with technological innovations in the banking sector |
title_full_unstemmed |
A dynamic general equilibrium model with technological innovations in the banking sector |
title_sort |
A dynamic general equilibrium model with technological innovations in the banking sector |
author |
Leão, E. R. |
author_facet |
Leão, E. R. |
author_role |
author |
dc.contributor.author.fl_str_mv |
Leão, E. R. |
dc.subject.por.fl_str_mv |
Dynamic general equilibrium Banking industry Sectoral shocks Allocation of capital and work hours between sectors |
topic |
Dynamic general equilibrium Banking industry Sectoral shocks Allocation of capital and work hours between sectors |
description |
We use a dynamic general equilibrium model where banks are treated as profit maximizing firms. We examine the behavior of the model when there are technological innovations that are specific to the banking industry as well as technological innovations in nonbank firms. In a stochastic simulation experiment where the technological shocks in banks and the technological shocks in nonbank firms are identical and perfectly correlated, we are able to approximately replicate the contemporaneous correlation between banks' investment and real output and the contemporaneous correlation between work hours in banks and real output that we see in the data. With one exception, the correlations between banks' investment and the past and future values of real output that we obtained with our model have the same sign as in the data. With two exceptions, the correlations between work hours in banks and the past and future values of real output that we obtained have the same sign as in the data. |
publishDate |
2003 |
dc.date.none.fl_str_mv |
2003-01-01T00:00:00Z 2003 2019-05-24T13:42:28Z 2019-05-24T14:41:30Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10071/18137 |
url |
http://hdl.handle.net/10071/18137 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
0931-8658 10.1007/s00712-002-0591-4 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Springer Verlag |
publisher.none.fl_str_mv |
Springer Verlag |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
instname_str |
Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
repository.mail.fl_str_mv |
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1799134747273723904 |