The purpose of this paper is to use the bootstrap resampling technique to calculate confidence intervals for efficiency measures and Malmquist productivity indices. The efficiency and productivity measures are obtained from non-parametric linear programming models using primal production data....

This paper presents a maximum likelihood panel test of the cointegrating rank in heterogeneous panel models based on the mean of the individual rank trace statistics. The existence of the first two moments of the asymptotic distribution of the individual trace statistic is established. Based on...

This paper presents and applies different approaches to estimate returns to scale in multiple-input multiple-output technologies. Scale efficiency gives quantitative information of scale characteristics. A primal based approach to estimate the scale elasticity is proposed as an alternative to...

This paper presents a network model incorporating customer satisfaction into efficiency and productivity measures. The network consists of a production node and a consumption node and offers flexibility in modelling the production and consumption process. Allocation of input resources to...

A relatively new approach to measure health status is to use non-parametric frontier methods, based on index and production theory. The purpose of this study is to construct and investigate some properties of a non-parametric health status index. The index is based on a non-radial efficiency...

In this paper, we add new evidence to a long-debated macroeconomic question, namely whether money growth has predictive power for inflation or, put differently, whether money growth Granger causes inflation. We use a historical dataset - consisting of annual Swedish data on money growth and...

We assess the bivariate relation between money growth and inflation in the euro area and the United States using hybrid time-varying parameter Bayesian VAR models. Model selection based on marginal likelihoods suggests that the relation is statistically unstable across time in both regions. The...

This paper examines the effect of FDI on job creation in the Chinese manufacturing sector. As one of the world's largest recipients of FDI, China has arguably benefited from foreign multinational enterprises in various respects. However, one of the main challenges for China, and other developing...

We consider forecast combination and, indirectly, model selection for VAR models when there is uncertainty about which variables to include in the model in addition to the forecast variables. The key difference from traditional Bayesian variable selection is that we also allow for uncertainty...

In this paper, we assess whether key relations between US interest rates have been stable over time. This is done by estimating trivariate hybrid time-varying parameter Bayesian VAR models with stochastic volatility for the three-month Treasury bill rate, the slope of the Treasury yield curve...