论文检索

灵活的面板随机生产前沿模型AI 解读

Summary We propose a flexible stochastic production frontier model with fixed effects for the panel data in which the semiparametric frontier is additive with bivariate interactions. To avoid potential misspecification and/or “wrong skew problem” due to distributional assumptions, we model the conditional mean of the inefficiency to depend on environmental variables and to be known up to a vector of parameters. We propose a difference‐based estimator for parameters…

具有内生投入与相关随机成分的面板随机前沿模型AI 解读

In this article, we consider a panel stochastic frontier model in which the composite error term εit has four components, that is, εit=τi−ηi+vit−uit, where ηi and uit are persistent and transient inefficiency components, τi consists of the random firm effects and vit is the random noise. Two distinguishing features of the proposed model are (i) the inputs are allowed to be correlated with one or more of the error components in the production function; (ii) time-invariant and…

存在出口时的企业生产率估计：中国制造业证据AI 解读

Summary Motivated by the long‐standing interest of economists in understanding the nexus between firm productivity and export behavior, this paper develops a novel structural framework for control‐function‐based nonparametric identification of the gross production function and latent firm productivity in the presence of endogenous export opportunities that is robust to recent unidentification critiques of proxy estimators. We provide a workable identification strategy,…

动态随机前沿模型的似然估计方法AI 解读

Summary This paper considers a panel stochastic production frontier model that allows the dynamic adjustment of technical inefficiency. In particular, we assume that inefficiency follows an AR(1) process. That is, the current year's inefficiency for a firm depends on its past inefficiency plus a transient inefficiency incurred in the current year. Interfirm variations in the transient inefficiency are explained by some firm‐specific covariates. We consider four…

面板数据半参数平滑系数随机前沿模型AI 解读

We investigate the semiparametric smooth coefficient stochastic frontier model for panel data in which the distribution of the composite error term is assumed to be of known form but depends on some environmental variables. We propose multi-step estimators for the smooth coefficient functions as well as the parameters of the distribution of the composite error term and obtain their asymptotic properties. The Monte Carlo study demonstrates that the proposed estimators perform…

美国信用合作社行业的多元化经济AI 解读

Summary Significant scale economies have been recently cited to rationalize a dramatic growth in the US retail credit union sector over the past few decades. In this paper, we explore another plausible supply‐side explanation for the growth of the industry, namely economies of diversification. We focus on the fact that credit unions differ among themselves in the range of financial services they offer to their members. Since larger credit unions tend to offer a more…

含非期望产出的随机方向性技术距离函数：成本系统方法与美国银行应用AI 解读

Summary This paper offers a methodology to address the endogeneity of inputs in the directional technology distance function (DTDF)‐based formulation of banking technology which explicitly accommodates the presence of undesirable nonperforming loans—an inherent characteristic of the bank's production due to its exposure to credit risk. Specifically, we model nonperforming loans as an undesirable output in the bank's production process. Since the stochastic DTDF describing…

好产出、坏产出与技术：环境生产模型中的内生性AI 解读

In this paper we consider an environmental production process in which firms intend to produce outputs (which we label as desirable/good) but the production process is such that it automatically produces some other unintentional but inevitable undesirable (bad) outputs as by-products (emission of pollutants). Like stochastic production frontier, by-production technology specifies that there is a minimal amount of the by-product that is produced, given the quantities of…

存在内生选择与固定效应的变系数面板模型AI 解读

This paper considers a flexible panel data sample selection model in which (i) the outcome equation is permitted to take a semiparametric, varying coefficient form to capture potential parameter heterogeneity in the relationship of interest, (ii) both the outcome and (parametric) selection equations contain unobserved fixed effects and (iii) selection is generalized to a polychotomous case. We propose a two-stage estimator. Given consistent parameter estimates from the…

似乎不相关回归系统的平滑系数估计AI 解读

This paper proposes estimation and inference for the semiparametric smooth coefficient seemingly unrelated regression model. We discuss the imposition of cross-equation restrictions which are required by economic theory as well as methods for data driven bandwidth selection. A test of correct functional form for the entire system of equations is also constructed. Asymptotic and finite sample results are given. We illustrate our estimator by applying it to a cost system for…

企业异质性、持续与暂时技术无效率：广义真实随机效应模型AI 解读

SUMMARY This paper considers a panel data stochastic frontier model that disentangles unobserved firm effects (firm heterogeneity) from persistent (time‐invariant/long‐term) and transient (time‐varying/short‐term) technical inefficiency. The model gives us a four‐way error component model, viz., persistent and time‐varying inefficiency, random firm effects and noise. We use Bayesian methods of inference to provide robust and efficient methods of estimating inefficiency…

第一价格拍卖的贝叶斯估计方法AI 解读

This paper considers Bayesian estimation strategies for first-price auctions within the independent private value paradigm. We develop an ‘optimization’ error approach that allows for estimation of values assuming that observed bids differ from optimal bids. We further augment this approach by allowing systematic over or underbidding by bidders using ideas from the stochastic frontier literature. We perform a simulation study to showcase the appeal of the method and apply…

原始与对偶生产系统中的随机误差设定AI 解读

In this paper we derive both primal and dual-cost systems in which the stochastic specifications arise from the model (random environment or measurement errors and optimization errors)—not tacked on at the end after the deterministic system is worked out. Derivation of the error structures is based on cost‐minimizing behavior on the firms. The primal systems constitute the production function and the first‐order conditions of cost minimization. We consider two dual‐cost…

瑞典社会保险办事机构的劳动使用效率AI 解读

Abstract This paper considers the estimation of frontier production functions in panel data models. It proposes a multi‐stage method to obtain estimates of (1) the parameters of a flexible input requirement function and (2) technical inefficiency decomposed into time‐invariant (firm‐specific), time‐varying, and the residual components. The proposed method is used to analyse labour‐use efficiency of Swedish local social insurance offices on the basis of a large panel of…

利用灵活函数形式与面板数据估计技术效率AI 解读

This article presents an econometric model capable of accommodating a nonradial measure of input-specific technical inefficiency and suggests an estimation technique that reduces dependency on distributional assumptions on inefficiency. It also makes use of the demand system derived from a flexible cost function and imposes concavity restrictions as required by economic theory. Panel data on 12 Finnish foundry plants are used to estimate technical efficiency of labor and…

生产前沿与面板数据：美国一级铁路公司的应用AI 解读

In this article, the appropriateness of inefficiency measures obtained directly from the production function as in Schmidt and Sickles (1984) is examined relative to those provided by (a) the cost function aproach, (b) Klein's approach, and (c) the iterative SUR technique. Efficiency rankings yielded by different methods are also compared and tested.