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Axiomatic Foundations of Inefficiency Measurement on < input, output > Space

Russell, R. Robert; Schworm, William E. - 2009

We provide an axiomatic foundation for efficiency measurement in the full space, referred to as "graph efficiency …

Persistent link: https://www.econbiz.de/10014046424

Problems with the Measurement of Banking Services in a National Accounting Framework

Diewert, W. Erwin - 2012

The paper considers some of the problems associated with the indirectly measured components of financial service outputs in the System of National Accounts (SNA), termed FISIM (Financial Intermediation Services Indirectly Measured). The paper utilizes a user cost and supplier benefit approach to...

Persistent link: https://www.econbiz.de/10013107917

Efficiency and Outsourcing : Evidence from Australian Manufacturing

Bakhtiari, Sasan - 2014

This paper studies the role of efficiency in a firm's decision to contract out. Emphasis is on the heterogeneous nature … manufacturing reveal an ordering of efficiency between firms that contract out and those that do not, in which contracting-out firms … are on aggregate less efficient. The analysis further shows that firms experience improvement in their efficiency soon …

Persistent link: https://www.econbiz.de/10013066855

Understanding Price Variation Across Stores and Supermarket Chains : Some Implications for CPI Aggregation Methods

Ivancic, Lorraine; Fox, Kevin J. - 2010

The empirical literature on price indices consistently finds that aggregation methods have a considerable impact, particularly when scanner data are used. This paper outlines a novel approach to test for the homogeneity of goods and hence for the appropriateness of aggregation. A hedonic...

Persistent link: https://www.econbiz.de/10014044469

Ivancic, Lorraine; Fox, Kevin J. - 2010

Chaining is used in index number construction to update weights and link new items into an index. However, chained indexes can suffer from, sometimes substantial, drift. The Consumer Price Index Manual (ILO, 2004) recommends the use of dissimilarity indexes to determine when chaining is...

Persistent link: https://www.econbiz.de/10014044514

Using a Constant Elasticity of Substitution Index to Estimate a Cost of Living Index : From Theory to Practice

Ivancic, Lorraine; Diewert, Walter E.; Fox, Kevin J. - 2010

Indexes often incorporate various biases due to their methods of construction. The Constant Elasticity of Substitution (CES) index can potentially eliminate substitution bias without needing current period expenditure data. The CES index requires an elasticity parameter. We derive a system of...

Persistent link: https://www.econbiz.de/10014044515

Mutual Fund Style, Characteristic-Matched Performance Benchmarks and Activity Measures : A New Approach

Buncic, Daniel; Hill, Robert J.; Eggins, Jon Edward - 2010

We propose a new approach for measuring mutual fund style and constructing characteristic-matched performance benchmarks that requires only portfolio holdings and two reference portfolios in each style dimension. The characteristic-matched performance benchmark literature typically follows a...

Persistent link: https://www.econbiz.de/10014045064

Consistency of Hedonic Price Indexes with Unobserved Characteristics

Syed, Iqbal A. - 2011

Hedonic regressions are prone to omitted variable bias. The estimation of price relatives for new and disappearing goods using hedonic imputation methods involves taking ratios of hedonic models. This may lead to a situation where the omitted variable bias in each of the hedonic regressions...

Persistent link: https://www.econbiz.de/10014045699

Measuring a Boom and Bust : The Sydney Housing Market 2001-2006

Hill, Robert J.; Melser, Daniel; Syed, Iqbal A. - 2009

The Sydney housing market peaked in 2003. The period 2001-2006 is, therefore, of particular interest since it captures a boom and bust in the housing market. We compute hedonic, repeat-sales and median price indexes for five regions in Sydney over this period. While the three approaches are in...

Persistent link: https://www.econbiz.de/10014046421

Measuring Housing Affordability : Looking Beyond the Median

Hill, Robert J.; Quan Gan - 2015

We draw a distinction between the concepts of purchase affordability (whether a household is able to borrow enough funds to purchase a house) and repayment affordability (the burden imposed on a household of repaying the mortgage). We operationalize this distinction in the context of a new...

Persistent link: https://www.econbiz.de/10014212428