Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/55661 
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dc.contributor.authorBasu, Susantoen
dc.contributor.authorInklaar, Roberten
dc.contributor.authorWang, J. Christinaen
dc.date.accessioned2012-02-23T08:29:00Z-
dc.date.available2012-02-23T08:29:00Z-
dc.date.issued2008-
dc.identifier.urihttp://hdl.handle.net/10419/55661-
dc.description.abstractRather than charging direct fees, banks often charge implicitly for their services via interest spreads. As a result, much of bank output has to be estimated indirectly. In contrast to current statistical practice, dynamic optimizing models of banks argue that compensation for bearing systematic risk is not part of bank output. We apply these models and find that between 1997 and 2007, in the U.S. National Accounts, on average, bank output is overestimated by 21 percent and GDP is overestimated by 0.3 percent. Moreover, compared with current methods, our new estimates imply more plausible estimates of the share of capital in income and the return on fixed capital.en
dc.language.isoengen
dc.publisher|aFederal Reserve Bank of Boston |cBoston, MAen
dc.relation.ispartofseries|aWorking Papers |x08-4en
dc.subject.jelE01en
dc.subject.jelE44en
dc.subject.jelO47en
dc.subject.ddc330en
dc.subject.stwBankgeschäften
dc.subject.stwRisikoen
dc.subject.stwGebühren
dc.subject.stwZinsstrukturen
dc.subject.stwGewinnermittlungen
dc.subject.stwSchätzungen
dc.subject.stwUSAen
dc.titleThe value of risk: Measuring the service output of U.S. commercial banks-
dc.typeWorking Paperen
dc.identifier.ppn586158669en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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