Basu, Susanto (contributor); Inklaar, Robert (contributor); … - 2008
of banks argue that compensation for bearing systematic risk is not part of bank output. We apply these models and find …, much of bank output has to be estimated indirectly. In contrast to current statistical practice, dynamic optimizing models … that between 1997 and 2007, in the U.S. National Accounts, on average, bank output is overestimated by 21 percent and GDP …