Kumbhakar, Subal; Heshmati, Almas; Hjalmarsson, Lennart - In: Journal of Productivity Analysis 18 (2002) 1, pp. 79-102
This paper deals with a dynamic adjustment process in which adjustment of a key variable input (labor) towards its desired level is modeled in a panel data context. The partial adjustment type model is extended to make the adjustment parameter both firm- and time-specific by specifying it as a...