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Measuring Economic Efficiency Using Inverse-Optimum Weights
Hendren, Nathaniel - 2014
This paper provides a method to measure the traditional Kaldor-Hicks notion of “economic efficiency” when taxes affect … behavior. In contrast to traditional unweighted surplus, measuring efficiency requires weighting individual benefits (or … results suggest that measuring economic efficiency requires weighting surplus accruing to the poor roughly 1.5-2 times more …
Persistent link: https://www.econbiz.de/10013049692
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Alternative Compensation Arrangements and Productive Efficiency in Partnerships : Evidence from Medical Group Practice
Gaynor, Martin; Pauly, Mark V. - 2021
production, as theory has hypothesized. The number of members in a group decreases both the quantity produced and the efficiency … arrangements on productive efficiency in medical group practices. The technique employed is two-stage production frontier … estimation. This technique provides direct estimates of productive efficiency and allows for differences across agents in ability …
Persistent link: https://www.econbiz.de/10013224695
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Efficient Recapitalization
Philippon, Thomas - 2009
We analyze government interventions to recapitalize a banking sector that restricts lending to firms because of debt overhang. We find that the efficient recapitalization program injects capital against preferred stock plus warrants and conditions implementation on sufficient bank participation....
Persistent link: https://www.econbiz.de/10013160157
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Markups and Firm-Level Export Status
De Loecker, Jan - 2010
Estimating markups has a long tradition in industrial organization and international trade. Economists and policy makers are interested in measuring the effect of various competition and trade policies on market power, typically measured by markups. The empirical methods that were developed in...
Persistent link: https://www.econbiz.de/10013151809
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Understanding the Role of Time-Varying Unobserved Ability Heterogeneity in Education Production
Ding, Weili - 2014
Unobserved ability heterogeneity has long been postulated to play a key role in human capital development. Traditional strategies to estimate education production functions do not allow for varying role or development of unobserved ability as a child ages. Such restrictions are highly...
Persistent link: https://www.econbiz.de/10013057830
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Estimating the Production Function for Human Capital : Results from a Randomized Control Trial in Colombia
Attanasio, Orazio - 2015
We examine the channels through which a randomized early childhood intervention in Colombia led to significant gains in cognitive and socio-emotional skills among a sample of disadvantaged children aged 12 to 24 months at baseline. We estimate the determinants of parents' material and time...
Persistent link: https://www.econbiz.de/10013027683
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Using Investment Data to Assess the Importance of Price Mismeasurement
Comin, Diego - 2021
This paper presents a new approach to assess the role of price mismeasurement in the productivity slowdown. I invert the firm's investment decision to identify the embodied and disembodied components of productivity growth. With a Cobb-Douglas production function, output price mismeasurement...
Persistent link: https://www.econbiz.de/10013219321
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A Ces Indirect Production Function
Jovanovic, Boyan - 2021
form. This is not a contribution to the theory of aggregation generally. Instead it is a microfoundation for a specific but … theory, the utility function when there is household production, human capital theory, and the concept of the aggregate …
Persistent link: https://www.econbiz.de/10013220428
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Production Function and Wage Equation Estimation with Heterogeneous Labor : Evidence from a New Matched Employer-Employee Data Set
Hellerstein, Judith K.; Neumark, David - 2021
In this paper, we first describe the 1990 DEED, the most recently constructed matched employer-employee data set for the United States that contains detailed demographic information on workers (most notably, information on education). We then use the data from manufacturing establishments in the...
Persistent link: https://www.econbiz.de/10013239185
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The Shape of Production Function and the Direction of Technical Change
Jones, Charles I. - 2021
This paper views the standard production function in macroeconomics as a reduced form and derives its properties from microfoundations. The shape of this production function is governed by the distribution of ideas. If that distribution is Pareto, then two results obtain: the global production...
Persistent link: https://www.econbiz.de/10013249717