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Using firm optimization to evaluate and estimate returns to scale
Gorodnichenko, Yuriy - 2008
At the firm level, revenue and costs are well measured but prices and quantities are not. This paper shows that because of these data limitations estimates of returns to scale at the firm level are for the revenue function, not production function. Given this observation, the paper argues that,...
Persistent link: https://www.econbiz.de/10010268849
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Impact of technology on the competitiveness of the Indian small manufacturing sector: A case study of the automotive component industry
Bhavani, T. A. - 2002
This paper endeavours to study the impact of technology on the competitiveness of the Indian small-scale automotive component units. The effect of technology is measured by directly introducing it in the production function along with the conventional inputs. For the purpose of analysis, we have...
Persistent link: https://www.econbiz.de/10010279214
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Estimating Economies of Scale and Scope with Flexible Technology
Triebs, Thomas; Saal, David S.; Arocena, Pablo; … - 2012
Economies of scale and scope are typically modelled and estimated using cost functions that are common to all firms in an industry irrespective of whether they specialize in a single output or produce multiple outputs. We suggest an alternative flexible technology model that does not make this...
Persistent link: https://www.econbiz.de/10010312125
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Uncertainty and capacity constraints: Reconsidering the aggregate production function
Gracia, Eduard - In: Economics: The Open-Access, Open-Assessment E-Journal 5 (2011) 2011-19, pp. 1-50
The CobbDouglas function is today one of the most widely adopted assumptions in economic modeling, yet both its theoretical and empirical bases have long been under question. This paper builds an alternative function on very different (albeit also neoclassical) microfoundations aimed at both...
Persistent link: https://www.econbiz.de/10010307562
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The aggregate Le Chatelier Samuelson principle with Cournot competition
Koebel, Bertrand M.; Laisney, François - 2010
importance of imperfect competition for understanding aggregate growth, investment and employment. …
Persistent link: https://www.econbiz.de/10010299963
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Scale economies can offset the benefits of competition: Evidence from a school consolidation reform in a universal voucher system
de Haan, Monique; Leuven, Edwin; Oosterbeek, Hessel - 2011
context scale economies dominated the effects of choice and competition. This points to an often ignored trade-off between … scale and competition. …
Persistent link: https://www.econbiz.de/10010278683
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Europe In The Global Economy: Matching The U.S.?
Ude, Christian; Teltschik, Horst; Sinn, Hans-Werner - In: CESifo Forum 04 (2003) 2, pp. 3-7
Persistent link: https://www.econbiz.de/10011695727
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Product market competition, corporate governance and firm performance: an empirical analysis for Germany
Januszewski, Silke I.; Köke, Jens; Winter, Joachim K. - 1999
comparison with the United States. It has been argued that lack of product market competition and poor corporate governance are … manufacturing firms over the 1986-94 period, we find that firms operating in industries which are characterized by more intensive … product market competition experience higher rates of productivity growth. We also find weak evidence for the notion that in …
Persistent link: https://www.econbiz.de/10010297660
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Welfare-based monetary policy rules in an estimated DSGE model of the US economy
Juillard, Michel; Karam, Philippe; Laxton, Douglas; … - 2006
We develop and estimate a stylized micro-founded model of the US economy. Next we compute the parameters of a simple interest rate policy rule that maximizes the unconditional mean of utility. We show that such a welfare-based rule lies close to the Taylor efficiency frontier. A counterfactual...
Persistent link: https://www.econbiz.de/10011604659
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A new approach to measuring competition in the loan markets of the euro area
van Leuvensteijn, Michiel; Bikker, Jacob A.; van … - 2007
This paper is the first that applies a new measure of competition, the Boone indicator, to the banking industry. This … approach is able to measure competition of bank market segments, such as the loan market, whereas many well-known measures of … competition can consider the entire banking market only. A caveat of the Boone-indicator may be that it assumes that banks …
Persistent link: https://www.econbiz.de/10011604814