Productivity gains in the banking industry affect interest rates, study finds
Paper analyses Spanish banks between 1993 and 2007
Productivity gains in Spain's banking industry translate into changes in the interest rates of loans and deposits, according to a working paper published by the Bank of Spain.
In Productivity and welfare: an application to the Spanish banking industry, Alfredo Martín Oliver, Sonia Ruano Pardo and Vicente Salas Fumás explore a model that predicts "more productive banks set lower (higher) interest rates on loans (deposits) and increase their market share", doing this through "higher demand per
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