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This paper demonstrates how Goal Programming/Constrained Regression can be used for cross-checking results from standard econometric models as well as a stand alone methodology in empirical production analysis. For illustration, we re-examine Berndt and Wood's (BW) seminal study of the U.S....
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function, total factor productivity, price markups over marginal costs, output prices, output quantities, a demand system, and …
Persistent link: https://www.econbiz.de/10012308513
The Dutch drinking water sector experienced two drastic changes over the last 10 years. Firstly, in 1997, the sector association started with a voluntary benchmarking aimed to increase the efficiency and effectiveness of the sector. Secondly, merger activity arose. This paper develops a tailored...
Persistent link: https://www.econbiz.de/10011373828
: gross production function, total factor productivity, price markups over marginal costs, output prices, output quantities, a …
Persistent link: https://www.econbiz.de/10013252454
function, total factor productivity, price markups over marginal costs, output prices, output quantities, a demand system, and …
Persistent link: https://www.econbiz.de/10013315013
Output and input market distortions manifest as wedges in the firm's first order conditions. The production approach to markup estimation recovers the markup wedge using the output elasticity for a variable and undistorted input. We show that using the revenue elasticity for any variable input,...
Persistent link: https://www.econbiz.de/10013210935
We consider fixed-effect estimation of a production function where inputs and outputs vary over time, space, and cross-sectional unit. Variability in the spatial dimension allows for time-varying individual effects, without parametric assumptions on the effects. Asymptotics along the spatial...
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