IDEAS home Printed from https://ideas.repec.org/p/ags/queddp/273380.html
   My bibliography  Save this paper

On Imputing for Financial Services in the National Accounts Commercial Banking in General Equilibrium

Author

Listed:
  • Hartwick, John M.

Abstract

We combine the income and capital accounts of nancial intermediaries commercial banks and of nonnancial rms and households to obtain a full accounting of the value of services provided by commercial banks to both depositors and borrowers We track the payments for such services and nd no missing items that need to be imputed for Socalled imputation turns out to be integration of the accounts of nancial institutions with their borrowers and depositors We also nd that a large fraction of banking services are purely intermediate and thus that the net valueadded after integration of the commercial banking sector in the total valueadded of the economy is small We also isolate terms that should be in the national accounts to represent the burden of riskbearing by equity holders an entry for apparent prots of rms Deposits as a stock of money in our economy is analyzed

Suggested Citation

  • Hartwick, John M., 1997. "On Imputing for Financial Services in the National Accounts Commercial Banking in General Equilibrium," Queen's Institute for Economic Research Discussion Papers 273380, Queen's University - Department of Economics.
    • Handle: RePEc:ags:queddp:273380
    DOI: 10.22004/ag.econ.273380
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/273380/files/qed_wp_946.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.273380?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Dwight B. Yntema, 1947. "National Income Originating in Financial Intermediaries," NBER Chapters, in: Studies in Income and Wealth, Volume 10, pages 23-50, National Bureau of Economic Research, Inc.
    2. Zvi Griliches, 1992. "Output Measurement in the Service Sectors," NBER Books, National Bureau of Economic Research, Inc, number gril92-1, March.
    3. Hartwick, John M., 1996. "The Financial Capital Constraint and the Valuation of Commercial Banking Activity," Queen's Institute for Economic Research Discussion Papers 273374, Queen's University - Department of Economics.
    4. Fixler, Dennis & Zieschang, Kimberly D, 1991. "Measuring the Nominal Value of Financial Services in the National Income Accounts," Economic Inquiry, Western Economic Association International, vol. 29(1), pages 53-68, January.
    5. Eisner, Robert, 1989. "The Total Incomes System of Accounts," University of Chicago Press Economics Books, University of Chicago Press, edition 1, number 9780226196381, September.
    6. Hancock, Diana, 1985. "The Financial Firm: Production with Monetary and Nonmonetary Goods," Journal of Political Economy, University of Chicago Press, vol. 93(5), pages 859-880, October.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Hartwick, John M., 1997. "On imputing for financial services in the national accounts," Economics Letters, Elsevier, vol. 56(1), pages 63-70, September.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. W. Erwin Diewert, 1995. "Price and Volume Measures in the System of National Accounts," NBER Working Papers 5103, National Bureau of Economic Research, Inc.
    2. Paolo Guarda & Abdelaziz Rouabah, 2007. "Banking output & price indicators from quarterly reporting data," BCL working papers 27, Central Bank of Luxembourg.
    3. Athanasoglou, Panayiotis P. & Georgiou, Evangelia A. & Staikouras, Christos C., 2009. "Assessing output and productivity growth in the banking industry," The Quarterly Review of Economics and Finance, Elsevier, vol. 49(4), pages 1317-1340, November.
    4. Allen N. Berger & David B. Humphrey, 1992. "Measurement and Efficiency Issues in Commercial Banking," NBER Chapters, in: Output Measurement in the Service Sectors, pages 245-300, National Bureau of Economic Research, Inc.
    5. Kimberly D. Zieschang, 2016. "FISIM Accounting," CEPA Working Papers Series WP012016, School of Economics, University of Queensland, Australia.
    6. Gabriel Asaftei & Subal Kumbhakar, 2008. "Regulation and efficiency in transition: the case of Romanian banks," Journal of Regulatory Economics, Springer, vol. 33(3), pages 253-282, June.
    7. Paolo Guarda & Abdelaziz Rouabah & Michael Vardanyan, 2013. "Identifying bank outputs and inputs with a directional technology distance function," Journal of Productivity Analysis, Springer, vol. 40(2), pages 185-195, October.
    8. J. Christina Wang, 2003. "Loanable funds, risk, and bank service output," Working Papers 03-4, Federal Reserve Bank of Boston.
    9. J. David Cummins & Mary A. Weiss, 1998. "Analyzing Firm Performance in the Insurance Industry Using Frontier Efficiency Methods," Center for Financial Institutions Working Papers 98-22, Wharton School Center for Financial Institutions, University of Pennsylvania.
    10. Fixler, Dennis & Zieschang, Kim, 2019. "Producing liquidity," Journal of Financial Stability, Elsevier, vol. 42(C), pages 115-135.
    11. Elizabeth K. Kiser, 2004. "Modeling the whole firm: the effect of multiple inputs and financial intermediation on bank deposit rates," Finance and Economics Discussion Series 2004-07, Board of Governors of the Federal Reserve System (U.S.).
    12. David B. Humphrey, 2020. "Distance functions, bank output, and productivity," Journal of Productivity Analysis, Springer, vol. 54(1), pages 13-26, August.
    13. Wynne, Mark A., 1996. "Balanced budget multipliers," Journal of Macroeconomics, Elsevier, vol. 18(2), pages 197-211.
    14. Barros, Carlos Pestana & Williams, Jonathan, 2013. "The random parameters stochastic frontier cost function and the effectiveness of public policy: Evidence from bank restructuring in Mexico," International Review of Financial Analysis, Elsevier, vol. 30(C), pages 98-108.
    15. Keh, Hean Tat & Chu, Singfat, 2003. "Retail productivity and scale economies at the firm level: a DEA approach," Omega, Elsevier, vol. 31(2), pages 75-82, April.
    16. Huffman, Wallace, 2004. "Marketizing U.S. Production in the Post-War Era: Implications for Estimating CPI Bias and Real Income from a Complete-Household-Demand System," Staff General Research Papers Archive 11987, Iowa State University, Department of Economics.
    17. Williams, Jonathan, 2004. "Determining management behaviour in European banking," Journal of Banking & Finance, Elsevier, vol. 28(10), pages 2427-2460, October.
    18. Depta, Peter & Ravalli, Frank & Harding, Don, 1994. "Extended Measures of Investment and Saving," MPRA Paper 3319, University Library of Munich, Germany.
    19. H Fukuyama & W L Weber, 2009. "Estimating indirect allocative inefficiency and productivity change," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 60(11), pages 1594-1608, November.
    20. Pradeep Kautish, 2010. "Study On Impact Of Environmental Change On Selected Public Sector Enterprises In India," Romanian Economic Business Review, Romanian-American University, vol. 5(2), pages 68-88, June.

    More about this item

    Keywords

    Financial Economics;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:queddp:273380. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/qedquca.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.