• The cost of producing any good or service is a key determinant of the value that it provides to consumers.  A business that can produce the same good at lower cost will be able to sell the good at lower prices, which allows consumers to purchase more of the good and to save more or spend more of their money on other goods and services.  This is true as well in the context of producing banking services – such as business loans, auto loans, and checking accounts.  While most people may not think of banking services as being “produced” in the same way that they think of, say, cars being produced, banking services are indeed produced from a combination of several key inputs such as physical capital, human capital, technology, and borrowed funds.  Banks that can produce these services at lower cost can pass some of these savings onto businesses and households while using less of the economy’s valuable resources financial system.

    A fundamental economic concept that relates the size of a firm to the cost of production is the concept of scale economies.  Firms exhibit increasing returns to scale when an increase in the size of the firm results in a decrease in the per unit cost of production.  As a specific example, a bank that can make 1,000 loans at a cost of $100 per loan and also is able to scale up its business and make 1,100 loans at a cost of $95 per loan exhibits increasing returns to scale.  Put differently, the bank can increase its loan output by 10 percent (100 loans) while only sustaining a 4.5 percent ($4,500) increase in costs.  In addition to increasing returns to scale, a firm may also exhibit constant returns to scale in which per unit costs neither rise nor fall as the firm grows or decreasing returns to scale in which per unit costs rise as the firm grows construction syste.

    There is good reason to think that the banking industry may exhibit increasing returns to scale.  Information technology is a key input into the production of banking services.  Loans and other banking services are increasingly produced by organizing, cataloging, and analyzing data with information technology.  The past thirty years have seen enormous improvements in our ability to process, manage, and analyze large amounts of data while at the same time technology costs have plummeted.  As shown in Figure 1, between December of 1997 and August of 2015, the price index for personal computers decreased by 96 percent while the price index for software declined by 64 percent vhis.  As managing more data becomes less costly, holding other expenses constant, a bank can increase the scale of its lending activities significantly without incurring a large increase in costs.  The potential presence of returns to scale in the banking industry is important because it has important implications for policies that would limit the size of banks.  Accordingly, it is important to understand the nature of scale returns in the banking industry.

    A number of recent research papers have explored the empirical evidence for increasing returns to scale in the banking industry and find significant economies of scale.  Mester and Hughes (2013) analyze a sample of several thousand U.S. bank holding companies (BHCs) in 2003, 2007, and 2010.  These authors find that, overall, a 10 percent increase in banking sector output only results in an 8 percent increase in costs.  What’s more, these authors examine the case for increasing returns to scale across banks of varying size and find that the largest banks exhibit the largest returns to scale.  Using data from 2010, they find that banks with total assets in excess of $100 billion experience only a 7 percent increase in cost in response to a 10 percent increase in output.

    A more recent paper by Wheelock and Wilson (2017) also examines the evidence for scale economies in banking using more recent data from 2015.  They also find significant evidence in favor of increasing returns to scale in the banking sector.  Also, like Mester and Hughes (2013), these authors find that the evidence in favor of increasing returns to scale is most compelling for the largest banks in their sample.  Taken together, these studies suggest that increasing returns to scale is a consistent and robust feature of the banking industry and that these effects are largest among larger banks.

    Finally, a related research paper by Kovner, Vickery, and Zhu (2014) examines how certain banking costs change with the size of U.S. BHCs over the 2003-2012 period.  More specifically, they examine noninterest expenses, which includes all bank costs except the cost of borrowed funds.  These costs include but are not limited to the costs of compensation, information technology, and legal services.

    These authors also find that costs relative to bank size decline as bank size increases.  According to the authors’ estimates, for an average-sized bank in 2017, increasing its total assets by an additional 10 percent would reduce noninterest expenses by roughly $6 million per year relative to a base case in which there is no relationship between bank size and expenses.  These authors also document how increasing size would affect various components of noninterest expense.  Table 1 displays the estimated annual reduction in cost relative to a base case in which cost and size are unrelated, for total noninterest expense and five other cost categories resulting from a 10 percent increase in the size of the average BHC in 2017 (i.e., $30 billion).  As shown in the table, a 10 percent increase in the size of the average BHC would reduce compensation costs by roughly $3.4 million per year and information technology costs by roughly $300,000 per year relative to the base case.  These authors also find some evidence that the identified scale economies are even larger for the largest banks.


    votre commentaire
  • 混合型皮膚分為混合型偏幹性皮膚和混合型偏油性皮膚。所謂混合性偏幹皮膚就是指兩頰偏幹,會有緊繃感的膚質,通常眼睛周圍有幹紋;混合性偏油則是指中間T區較油,毛孔粗大,兩頰出油不多,也不緊繃的膚質。混合性研究皮膚問題並不是一個固定的,它有自己可能因為隨著不同季節、年齡的變化的而變化,有可能妹紙們夏天的時候是混合性偏油皮膚,冬天的時候卻變成了一種混合性偏幹了。所以,用不同的護膚混合性皮膚的皮膚妹紙要做到在每個季節!混皮妹紙用於護膚不是很頭疼嗎?面部皮膚控油的一些地區,一些地方不得不支付。為了滿足這么多的要求的情況下,如何洗臉護理?不造的話,跟著一起來了解下混合性皮膚的正確洗臉方法吧!get住這項技能,你也能變得美美噠哦!

    除了定期的按摩和運動來延緩衰老,我總是使用正確的護膚產品,它們的保濕精華效果很好。保濕精華好用推介-

    混合性研究皮膚問題由於其具有“幹、油”兩種膚質的特點,所以在自己洗臉時就要求妹紙們要注意學生針對企業不同作用部位來選用潔面護膚品啦! 因為如果油性皮膚專用洗面奶用於幹性皮膚,可能是幹性皮膚出現比較幹燥,而幹性皮膚專用洗面奶用於油性皮膚的同時也容易洗不幹淨的皮膚油。因此,妹紙們在清潔臉部的時候我們要注意進行分區管理護理啦!那么,具體的洗臉方法是怎么樣的呢?

    聖誕節也是開始抗皺精華推薦的好時機!今年聖誕節,TONYMOLY HK推出了一款超高CP的聖誕禮盒裝,尤其是抗皺精華套裝。不僅包裝精美,產品質量也很好,所以產品的外包裝很好。

    混合性皮膚妹紙都建議開始在T字部位的開始清潔皮膚,因為T字部位油多,那么我們應該使用適合油性皮膚清潔洗面奶。2、清洗完T字部位後,建議采用移位式的方法清洗幹性皮膚部位,即面部兩頰位置。妹紙們可以先從下巴開始,慢慢移到兩頰,最後到耳朵周圍,慢慢地進行清潔,然後用溫水洗淨。在完成前兩步後,妹紙你需要洗一遍T區,這樣才能徹底去除脂肪,保持皮膚清爽。最後,用活水(水龍頭的水)再洗多一次臉,這樣就能讓皮膚充分補充水分啦!

    相關文章:

    臉色肌膚細胞衰老皺紋多哪種除皺提升方法好

    混合性皮膚其特點是易於使用的護膚程序是什么

    如何看臉判斷是否需要排毒呢


    votre commentaire
  • pp棉,什么枕頭填充物,事實上,當我們接觸枕頭時,你可以告訴這些枕頭填充物肯定。 先小介紹第一種枕頭填充物是pp棉。那么當我們在選購產品這類抱枕的時候,要怎么進行辨別企業裏面的填充物是pp棉呢?就目前的市場來看,pp棉是最為常見的一種抱枕填充物。形狀不定,而且pp棉本身的手感就比較順滑。我們在選擇的時候主要還是看pp面的色澤。一般白色的pp棉質量比較好。而那些灰色的pp棉一般都是幾次三番回收之後做成的。

    雅芳婷側睡枕讓你輕鬆塑造出仰睡和側睡區,魔力粒子隨心枕除了符合不同人對枕頭高度的要求,亦兼顧到仰睡和側睡時頸椎和肩膀的不同需求。

    珍珠棉,對枕頭填充物的鑒定是什么方法,除了手摸,其實用眼睛也基本能對什么枕頭填充物。首先小編要為大家介紹的類抱枕填充物就是pp棉。其實相比pp棉不少朋友會選擇珍珠棉的原因就是因為珍珠棉是呈珍珠顆粒狀不容易板結而且珍珠棉的彈性也比較好。當我們在辨別珍珠棉質量的時候,填充用珍珠棉生產,主要就是看珍珠棉的顏色和蓬松度。一般珍珠棉材質的抱枕比pp棉使用得要久一些。抱枕填充物是什么之:蠶絲下腳料 關於抱枕填充物是什么,有一類叫做蠶絲下腳料的填充物可謂是抱枕填充物裏面的高檔產品。一般可以使用蠶絲下腳料作為填充物的抱枕都是通過造型企業比較硬挺的抱枕。

    很多學生朋友在選購抱枕的時候,其實我們關注企業過多時間還是抱枕的形狀和款式圖案等等。什么枕頭填充物經常是消費者忽略的問題。為什么需要我們要關注抱枕填充物或者是什么呢?這是因為不同的枕頭餡料,由於材料的不同的特性,無論是舒適性或使用時間將受到限制。抱枕填充物是什么之:泡沫顆粒 當大家商場或是專賣店遇到有一類抱枕摸上去裏面呈小顆粒狀,並且也比較有彈性。你知道這些枕頭填充物是什么嗎?其實對於這類材質的抱枕也是我們大家可以見得比較多的。但是我國關於這類抱枕填充物是什么原因可能我們大家真的不是很了解。其實這種抱枕芯填充物就是泡沫顆粒。只有這樣枕顆粒的價格一般比較昂貴。並用泡沫作為填料顆粒通常難以直立枕頭,這是它的缺點之一。

    相關文章:

    人造填充枕的優缺點

    枕巾哪種產品材質進行面料好發黃怎么洗

    護頸枕什么形狀的好

    如何不同的人群選擇適合自己的枕頭

    太空枕如何清洗和保養


    votre commentaire
  • 無繩電熨斗的原理。無繩電熨斗由兩部分組成:熨斗主體和熨斗座。在熨斗主體的後端,提供了一個高度低於其底面的電源觸點。在熨斗座的內腔中,熨斗主體放置在熨斗座上。可以在加載後將電源下觸點連接到電源上觸點,並且可以將電源下觸點從外部連接到電源。當熨斗熨燙衣服時,將熨斗主體與電源分開,避免了觸電的危險,安全可靠,不需要拖拽電源線,使用方便。

    有唔少旅遊達人都大讚呢個手提蒸氣熨斗 好用,因為「細」都係佢嘅賣點嚟!佢嘅機身只有118 × 81 × 97mm咁大,重450克,帶去旅行非常方便,仲可以用嚟消毒酒店床單!

    無繩電熨斗的結構與無繩電熨斗的結構不同。無繩電熨斗由熨斗主體和熨斗座組成。在鐵體的端部,提供高度低於其底面的電源。觸頭,在熨斗座的內腔中,當將熨斗主體放在熨斗座上時,下部電源觸頭可以連接到上部電源觸頭,帶電的觸頭可以連接到電源,然後熨斗是熨燙衣服時,會斷開電源,不會有觸電的危險。

    西裝和禮服的質地都十分容易皺,對於需要公幹的人士來說要保持衣服筆直挺身是個煩惱,手提蒸氣熨斗好用,近年市面有不少蒸氣熨斗,沒有了電線的束縛,用起來的確方便得多,但依舊有傳統燙斗笨重的重量!

    無繩熨斗具有優勢,而且沒有隱患。目前,由於某種原因,無繩熨斗在市場上很受歡迎。無繩熨斗已經在有繩熨斗上進行了改造,這主要是基於有繩熨斗的一些缺點。從上面介紹的結構可以看出無繩電熨斗。無繩電熨斗由熨斗主體和熨斗座組成。因此,當使用無繩電熨斗時,無需擔心觸電。。美觀,無繩電熨斗的另一個優點是美觀。每個人都可以從我們提供的無繩熨斗的圖片中看到。無繩熨斗與有繩熨斗在結構上有很大不同。無繩熨斗的底座比有繩熨斗的底座多一個。無繩熨斗看起來更富有質感和品味。

    相關文章:

    鐵的技能分為立式蒸汽和家用鐵

    電熨斗如何調節溫度?

    電熨斗的工作原理

    電熨斗選擇技巧

    電熨斗保養方法


    votre commentaire
  • 牙結石,牙結石的沉積從很少到很多逐漸形成。牙結石通常在牙齦下產生,容易刺激牙齦組織並引起牙齦炎。結石形成後,很容易影響口腔的外觀。建議成年人每六個月進行一次徹底的牙科檢查。另外,平時多吃芹菜,蘋果等粗纖維食品,有助於減少牙結石的產生。牙齦問題,牙齦出血,牙齦腫是最常見的牙齦問題。如果不及時清潔口腔,食物殘渣,牙垢和牙結石會在牙齒周圍積聚,各種細菌會繁殖,導致牙齦炎和牙齦出血。發生此類口腔問題後,還會出現口臭等症狀。

    牙齒白笑起來甜美可愛,客製化定制美白牙貼片,改善因生活等各種習慣導致的牙黃問題,牙齒貼片必看重點。

    齲齒是口腔中最常見的疾病之一。由於疾病進展緩慢,齲齒常常被忽略。實際上,齲齒是非常有害的。當病變深入到牙齒體內時,將引起一系列並發症,例如牙髓病,根尖週疾病和頜骨發炎,這將嚴重影響整個身體的健康。建議人們按時刷牙並定期進行口腔檢查。當大多數人刷牙時,他們習慣於在擠牙膏之前先弄濕牙刷。但是實際上,如果牙刷是濕的,則在擠壓牙膏後很容易起泡沫。如果口腔中的泡沫過多,人們會覺得自己已經刷牙很長時間了,並認為它可以結束。此時,尚未刷牙。

    牙貼面專家,佢地全新既全瓷牙貼片就可以改善到我而家既煩惱,可以有效又快捷咁幫我將牙仔變白,維持時間亦非常持久 。

    要了解牙科保健知識,沒有長牙的嬰兒也應“刷”嬰幼兒。儘管它們沒有長出牙齒,但還需要用蘸有清水的紗布擦拭口腔粘膜和牙齦,以幫助預防口腔發炎。2歲後,兒童應使用兒童牙刷清潔牙齒。在5歲之前,這是預防齲齒的關鍵時期。牙齒消失後刷牙。刷牙不僅可以清潔牙齒表面,還可以清潔整個口腔環境。儘管牙齒脫落,但仍然存在諸如粘膜,牙齦和肺泡等組織。正常的牙周病原體廣泛分佈在口腔粘膜,唾液和牙齦表面。此外,刷牙還有助於增強吞嚥反射和咳嗽反射的功能,並可以保護呼吸道。因此,即使老年人完全失去了牙齒,也應使用柔軟的牙刷清潔牙齦和肺泡。

    相關文章:

    牙齒咬痛嗎?一些原因不容忽視

    如果我的牙齒因吸煙而變黃怎麼辦

    如果我有長智齒的牙痛該怎麼辦?

    堅硬的牙齒會長出腫瘤嗎?

    牙齒酸可能表明5種牙齒疾病


    votre commentaire



    Suivre le flux RSS des articles
    Suivre le flux RSS des commentaires