New evidence on returns to scale and product mix among U.S. commercial banks

@inproceedings{Wheelock2001NewEO,
  title={New evidence on returns to scale and product mix among U.S. commercial banks},
  author={David C. Wheelock and Paul W. Wilson},
  year={2001}
}
Numerous studies have found that banks exhaust scale economies at low levels ofoutput, but most are based on the estimation of parametric cost thnctions which misrepresent bank cost. Here we avoid specification error by using nonparametric kernel regression techniques. We modify measures of scale and product mix economies introduced by Berger et al. (1987) to accommodate the nonparametric estimation approach, and estimate robust confidence intervals to assess the statistical significance of… CONTINUE READING
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