This paper provides a unifying framework in which identified offset and sterilisation equations can be derived and estimated. The theoretical model suggests that, in the case where the central bank cares about bouth external and internal goals and capital is less than perfectly mobile, there...

The purpose of this paper is threfold: first, to empirically investigate the cost-structure of railway systems in the ten European Countries of the European Union. second to provide measures of economies (diseconomies) of scale and fully investigate the manner by which economies of scale have...

The paper proposes a stochastic frontier model with random coefficients to separate technical inefficiency from technological differences across firms, and free the frontier model from the restrictive assumption that all firms must share exactly the same technological possibilities.

The paper takes up Basesian inference in linear models with disturbances from a non-central Student-t distribution.