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Real Output of Bank Services: What Counts is What Banks Do, Not What They Own

We argue that models of banks as processors of information and transactions imply a quantity measure of bank output based on transaction counts instead of balances of loans and deposits. Compiling new and comparable real output measures for the USA and a range of European countries, we show that cou...

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Published in:	Economica (London) 2013-01, Vol.80 (317), p.96-117
Main Authors:	Inklaar, Robert, Wang, J. Christina
Format:	Article
Language:	English
Subjects:	Bank assets Bank loans Bank operations Bank reserves Bank services Banking Banking services Banks Economic models Europe Financial risk Financial transactions Houses Information International comparisons Loan rates Loans Mortgage loans Output Output rate Price indices Statistics Studies United States
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container_end_page	117
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container_title	Economica (London)
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creator	Inklaar, Robert Wang, J. Christina
description	We argue that models of banks as processors of information and transactions imply a quantity measure of bank output based on transaction counts instead of balances of loans and deposits. Compiling new and comparable real output measures for the USA and a range of European countries, we show that counts-based output series exhibit substantially different growth patterns than balances-based output series. Since the US official statistics rely on counts while European statistics rely on balances, this implies that comparisons of bank output growth between Europe and the USA are biased.
doi_str_mv	10.1111/j.1468-0335.2012.00942.x
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source	EBSCOhost Business Source Ultimate; International Bibliography of the Social Sciences (IBSS); Wiley; EBSCOhost Econlit with Full Text; JSTOR Archival Journals and Primary Sources Collection; PAIS Index
subjects	Bank assets Bank loans Bank operations Bank reserves Bank services Banking Banking services Banks Economic models Europe Financial risk Financial transactions Houses Information International comparisons Loan rates Loans Mortgage loans Output Output rate Price indices Statistics Studies United States
title	Real Output of Bank Services: What Counts is What Banks Do, Not What They Own
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