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We consider a Bayesian analysis of the stochastic frontier model with composed error.Under a commonly used class of (partly) noninformative prior distributions, the existence of the posterior distribution and of posterior moments is examined.Viewing this model as a Normal linear regression model...
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Abstract: The spatial survival models typically impose frailties, which characterize unobserved heterogeneity, to be spatially correlated. This specification relies highly on a pre-determinate covariance structure of the errors. However, the spatial effect may not only exist in the unobserved...
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methodology proposed in our earlier work, we also decompose output growth into technical, efficiency and input changes and examine …
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decomposition of productivity growth into technical change and efficiency change.The terms can now be broken down by sector as well …
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efficiency change.In other words, the two well-known sources of productivity growth-technology and efficiency-can be augmented by … a third one, namely the industrial organization effect.In this paper the efficiency of an industrial organization and … its contribution to performance are measured by benchmarking all firms on the industry.More precisely, efficiency is …
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standard-Calvo-wages - amplifies the macroeconomic output fluctuations resulting from a technology shock whereas it mitigates …
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