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Measurement of capital stock and input services of Spanish banks

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Author Info

  • Alfredo Martín-Oliver

    ()
    (Banco de España)

  • Vicente Salas-Fumás

    ()
    (Banco de España
    Universidad de Zaragoza)

  • Jesús Saurina

    ()
    (Banco de España)

Abstract

This paper contains estimates of physical and intangible (information technology, advertising and training) capital stock, together with capital, labor and externally provided input services, of Spanish commercial and saving banks in the period 1983 to 2003. Capital stocks are valued at replacement costs and assets’ services flows are computed using estimates of the risk-adjusted user cost of capital. Replacement costs of assets are substantially higher than book values and economic estimates of costs of input services allow for more accurate measures of efficiency and productivity of banks.

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File URL: http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/07/Fic/dt0711e.pdf
File Function: First version, May 2007
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Bibliographic Info

Paper provided by Banco de Espa�a in its series Banco de Espa�a Working Papers with number 0711.

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Length: 48 pages
Date of creation: May 2007
Date of revision:
Handle: RePEc:bde:wpaper:0711

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Keywords: Spanish banks; intangible assets; cost of capital services;

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  1. Zvi Griliches & Jacques Mairesse, 1984. "Productivity and R&D at the Firm Level," NBER Chapters, National Bureau of Economic Research, Inc, in: R & D, Patents, and Productivity, pages 339-374 National Bureau of Economic Research, Inc.
  2. Frank R. Lichtenberg, 1993. "The Output Contributions of Computer Equipment and Personnel: A Firm- Level Analysis," NBER Working Papers 4540, National Bureau of Economic Research, Inc.
  3. Berry, Heather & Sakakibara, Mariko, 2008. "Resource accumulation and overseas expansion by Japanese multinationals," Journal of Economic Behavior & Organization, Elsevier, Elsevier, vol. 65(2), pages 277-302, February.
  4. Edward J. Green & Jose A. Lopez & Zhenyu Wang, 2003. "Formulating the imputed cost of equity capital for priced services at Federal Reserve banks," Economic Policy Review, Federal Reserve Bank of New York, Federal Reserve Bank of New York, issue Sep, pages 55-81.
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Cited by:
  1. Alfredo Martín-Oliver & Vicente Salas-Fumas, 2007. "The output and profit contribution of information technology and advertising investments in banks," Banco de Espa�a Working Papers, Banco de Espa�a 0740, Banco de Espa�a.

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