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We investigate into the simulated (Monte Carlo) performance of some LAD-based estimators vis-a-vis that of the LS-based estimators for multi-equation linear econometric models of various error specifications - such as Normal, Cauchy, Gamma, Beta1 and Beta2 - in presence of outliers different in...
Persistent link: https://www.econbiz.de/10014075064
Simultaneity represents a fundamental problem when estimating the elasticity of substitution between capital and labour. To overcome this problem, a wide variety of external instruments has been applied in the literature. However, the use of instruments may lead to wrong inference if they are...
Persistent link: https://www.econbiz.de/10013162412
that the estimation approach is consistent, showing good finite sample properties especially in small samples …
Persistent link: https://www.econbiz.de/10012869435
We measure firm-level productivity changes in the Indian electricity sector during a period that witnessed several pro-market regulatory changes. Using information collected from multiple sources we construct a unique panel of generating firms and transmission and distribution utilities spanning...
Persistent link: https://www.econbiz.de/10013087453
For a panel data regression equation with two-way unobserved heterogeneity, individual-specific and period-specific, ‘within-individual’ and ‘within-period’ estimators, which can be given Ordinary Least Squares (OLS) or Instrumental Variables (IV) interpretations, are considered. A class...
Persistent link: https://www.econbiz.de/10011585187
This paper (i) derives a number of properties of a newly specified multi-input-single-output (MISO) production function with a derived error term, and (ii) using iteratively rescaled generalized least squares, presents estimates of the cross-sectionally varying coefficients of a...
Persistent link: https://www.econbiz.de/10013404424
estimation procedures that, by relying on a first-difference data transformation, achieve consistency when n goes to infinity …
Persistent link: https://www.econbiz.de/10012944010
function. The second case has often called for estimation of an implicit aggregate production function. Most of the studies … relating to estimation of joint production functions have noted two difficulties: first that allocation of inputs to different … outputs are not known, and the second that a method of estimation (such as the Least Squares) cannot have more than one …
Persistent link: https://www.econbiz.de/10014048371
Permutation techniques, where one recompute the test statistic over permutations of data, have a long history in statistics and have become increasingly useful as the availability of computational power has increased. Until now, no permutation tests for examining returns to scale assumptions,...
Persistent link: https://www.econbiz.de/10013338075
return ; Random number generation ; Parameter estimation …
Persistent link: https://www.econbiz.de/10008663369