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technology". By separating the production of undesirable outputs from that of desirable outputs, not only do we ensure that … index also provides a meaningful way to decompose environmental productivity into environmental technological and efficiency …
Persistent link: https://www.econbiz.de/10011297619
refuses access to the data), I show its assumption of homogeneous technology cannot be maintained. Quantile regressions (QR … efficiency scores derived from stochastic frontier analysis. To correct for this heterogeneity in coefficients, I propose a …. This estimation has better goodness of fit, reduced variance of all coefficients, and higher efficiency scores for nearly …
Persistent link: https://www.econbiz.de/10011448121
Existing methods for the measurement of technical efficiency in the dynamic production models obtain it from the … dynamic evolution of efficiency that is explicitly optimized by the firm. This paper introduces a new conceptualization of … efficiency that directly enters the firm's intertemporal production decisions and is both explicitly costly and endogenously …
Persistent link: https://www.econbiz.de/10012845521
The recovery in private business investment globally remains extremely weak more than seven years after the financial crisis. This paper contributes to the ongoing policy debate on the factors behind this weakness by analyzing the role of growth prospects and uncertainty in explaining...
Persistent link: https://www.econbiz.de/10011422052
panel are employed to obtain measures of efficiency for those journals belonging simultaneously to the areas of “economics …” and “social science, mathematical methods” in the Web of Science database. This efficiency is measured in terms of the …
Persistent link: https://www.econbiz.de/10012437397
which we then apply. Thirdly, we introduce the concept of the spatial efficiency multiplier and show that the efficiency … benchmark for a productive unit from the structural form of a spatial stochastic frontier model differs from the efficiency …
Persistent link: https://www.econbiz.de/10012978825
-sample performance of our estimators. An empirical study of efficiency trends in the largest banks operating in the U.S. from 1990 to …
Persistent link: https://www.econbiz.de/10011711007
We propose a framework of optimal monetary policy where debt sustainability may, or may not, be a relevant constraint for the central bank. We show analytically that in each environment the optimal interest rate path consists of a Taylor rule augmented with forward guidance terms. These terms...
Persistent link: https://www.econbiz.de/10012420260
We introduce behavioral learning equilibria (BLE) into a multi-variate linear framework and apply it to New Keynesian DSGE models. In a BLE, boundedly rational agents use simple but optimal first-order autoregressive (AR(1)) forecasting rules whose parameters are consistent with the observed...
Persistent link: https://www.econbiz.de/10013370515
In this paper, I develop a population-based Markov chain Monte Carlo (MCMC) algorithm known as parallel tempering to estimate dynamic stochastic general equilibrium (DSGE) models. Parallel tempering approximates the posterior distribution of interest using a family of Markov chains with tempered...
Persistent link: https://www.econbiz.de/10014558970