We derive a primal Divisia technical change index based on the output distance function and further show the validity of this index from both economic and axiomatic points of view. In particular, we derive the primal Divisia technical change index by total differentiation of the output distance...

We estimate the shadow prices of CO₂ emissions of electric utilities in the United States over the period from 2001 to 2014, using a random-coefficient, random-directional-vector directional output distance function (DODF) model. The main feature of this model is that both its coefficients and...

This paper provides parametric estimates of technical change, efficiency change, economies of scale, and total factor productivity growth for large banks (those with assets in excess of $1 billion) in the United States, over the period from 2000 to 2005. This is done by estimating an output...

Despite their great popularity, the conventional Divisia productivity indexes all ignore undesirable outputs. The purpose of this study is to Â…fill in this gap by proposing a primal Divisia-type productivity index that is valid in the presence of undesirable outputs. The new productivity...

In this paper we build on work by Gallant and Golub (1984), Diewert and Wales (1987), and Barnett (2002) and provide a comparison among three different methods of imposing theoretical regularity on flexible functional forms - reparameterization using Cholesky factorization, constrained...