Tilburg University

About: Tilburg University is a education organization based out in Tilburg, Noord-Brabant, Netherlands. It is known for research contribution in the topics: Population & Context (language use). The organization has 5550 authors who have published 22330 publications receiving 791335 citations.

Stock Markets, Banks, and Growth: Panel Evidence

Abstract: This paper investigates the impact of stock markets and banks on economic growth using a panel data set for the period 1976-98 and applying recent GMM techniques developed for dynamic panels. On balance, we find that stock markets and banks positively influence economic growth and these findings are not due to potential biases induced by simultaneity, omitted variables or unobserved country-specific effects.

Structural models of family labor supply: a discrete choice approach.

Abstract: A static neoclassical structural model is presented explaining labor supply of both spouses in [two-adult] households [in the Netherlands]. Family preferences are described with a direct translog utility function with the husbands leisure the wifes leisure and family income as its arguments. We assume that the choice set of each family is finite. Account is taken of the Dutch tax and benefits system. We allow for hours restrictions and random preferences and account for unobserved wages of nonworkers. The models are estimated using smooth simulated maximum likelihood. Results based upon Dutch cross-section data from 1987 are illustrated by confidence intervals for elasticities and by several policy simulations. (EXCERPT)

Bank Activity and Funding Strategies: The Impact on Risk and Return

Abstract: This paper examines the implications of bank activity and short-term funding strategies for bank risk and return using an international sample of 1334 banks in 101 countries leading up to the 2007 financial crisis. Expansion into non-interest income generating activities such as trading increases the rate of return on assets, and it may offer some risk diversification benefits at very low levels. Non-deposit, wholesale funding in contrast lowers the rate of return on assets, while it can offer some risk reduction at commonly observed low levels of non-deposit funding. A sizeable proportion of banks, however, attract most of their short-term funding in the form of non-deposits at a cost of enhanced bank fragility. Overall, banking strategies that rely prominently on generating non-interest income or attracting non-deposit funding are very risky, consistent with the demise of the U.S. investment banking sector.