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Nonparametric estimation of homothetic and homothetically separable functions

Lewbel, Arthur; Linton, Oliver - London School of Economics (LSE) - 2003

Persistent link: https://www.econbiz.de/10010745632

Identification and nonparametric estimation of a transformed additively separable model

Jacho-Chávez, David; Lewbel, Arthur; Linton, Oliver - London School of Economics (LSE) - 2006

Let r (x, z) be a function that, along with its derivatives, can be consistently estimated nonparametrically. This paper discusses identification and consistent estimation of the unknown functions H, M, G and F, where r (x, z) = H [M (x, z)] and M (x, z) = G(x) + F (z). An estimation algorithm...

Persistent link: https://www.econbiz.de/10011071234

Modelling the service sector

King, Philip; Millard, Stephen - London School of Economics (LSE) - 2014

In the wake of the financial crisis output fell dramatically while inflation remained above its target and productivity … collapsed relative to its previous trend. The fall in productivity relative to trend was particularly pronounced within the … explain some of the qualitative movements in productivity seen in response to the financial crisis. …

Persistent link: https://www.econbiz.de/10011126118

Efficiency rents of storage plants in peak-load pricing, ii: hydroelectricity

Horsley, Anthony; Wrobel, Andrew J. - London School of Economics (LSE) - 1999

Duality methods of linear and convex programming are applied to impute definite marginal values to the fixed inputs of a hydroelectric plant from the operating profit. Our earlier analysis of pumped storage (of energy and other cyclically priced goods) is thus extended to valuation of an...

Persistent link: https://www.econbiz.de/10010928665

Efficiency rents of pumped-storage plants and their uses for operation and investment decisions

Horsley, Anthony; Wrobel, Andrew J. - London School of Economics (LSE) - 2000

We apply duality methods of linear and convex programming to the problems of operation and rental valuation of facilities for conversion and storage of cyclically priced goods, e.g. , energy. Both problems are approached by shadow-pricing the stock (which is a purely intermediate commodity); and...

Persistent link: https://www.econbiz.de/10010744852

Characterizations of long-run producer optima and the short-run approach to long-run market equilibrium: a general theory with applications to peak-load pricing

Horsley, Anthony; Wrobel, Andrew J. - London School of Economics (LSE) - 2005

This is a new formal framework for the theory of competitive equilibrium and its applications. Our “short-run approach” means the calculation of long-run producer optima and general equilibria from the short-run solutions to the producer’s profit maximization programme and its dual. The...

Persistent link: https://www.econbiz.de/10011071376

The Wong-Viner envelope theorem for subdifferentiable functions

Horsley, Anthony; Wrobel, Andrew J. - London School of Economics (LSE) - 2005

The Wong-Viner Envelope Theorem on the equality of long-run and short-run marginal costs (LRMC and SRMC) is reformulated for convex but generally nondifferentiable cost functions. The marginal cost can be formalized as the multi-valued subdifferential a.k.a. the subgradient set but, in itself,...

Persistent link: https://www.econbiz.de/10010745163

Recovering the sunk costs of R&D: the moulds industry case

Santos, Carlos Daniel - London School of Economics (LSE) - 2009

which international trade leads to productivity growth. Finally, using the estimated parameters, simulations evaluate the …

Persistent link: https://www.econbiz.de/10010745785

Convergence of firm-level productivity, globalisation, information technology and competition: evidence from France

Chevalier, Paul-Antoine; Lecat, Rémy; Oulton, Nicholas - London School of Economics (LSE) - 2009

Studies of firm-level data have shown that there is a huge dispersion of productivity across firms even when industries … productive. The formers’ convergence could therefore constitute an important part of productivity growth at the macroeconomic … which can explain it. Productivity convergence was stronger for labour productivity than for total factor productivity. But …

Persistent link: https://www.econbiz.de/10010744856

Productivity differences in the airline industry: partial deregulation versus short-run protection

Marin, Pedro L. - London School of Economics (LSE) - 1995

characteristics and efficiency as the main determinants of their productivity. The application of this analysis to the European market … shows that productivity differences among flag carriers could explain the governments' different views about deregulation at …

Persistent link: https://www.econbiz.de/10010745526

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