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In this study, we address a major problem in the measurement of firm performance and the regulation of natural monopolies, namely the intertemporal character of long-term investment decisions. In specific, we focus on the impact of adjustment costs of investments on estimates of firms’...
Persistent link: https://www.econbiz.de/10010253389
We develop a network technology model for pollution abatement that distinguishes between the two primary forms that abatement can take: Prevention of emissions from occurring in the first place, and treatment of any emissions that are generated by the production process. Our network model...
Persistent link: https://www.econbiz.de/10012289173
productivity (TFP) growth in China. Our primary goal is to test Hicks' induced innovation hypothesis by examining whether technical … change in China has been induced by sharp increase in input prices that have accompanied its rapid economic growth. Utilizing … buffers a long-term decline in TFP growth that would otherwise be quite substantial. We conclude that China's economic growth …
Persistent link: https://www.econbiz.de/10012179650
We analyze the profit efficiency of the Colombian banking industry during the period 2001 - 2013. Unlike previous studies, we estimate revenue and cost efficiency separately and then compute profit efficiency as a composite measure of both cost and revenue efficiency. This approach overcomes the...
Persistent link: https://www.econbiz.de/10012897019
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Agricultural inputs are peculiar in nature as an asymmetry in their roles can be identified during the production process. These inputs can be grouped into a set of growth inputs or a set of facilitating inputs. The inputs affecting biological or physiological growth from the inside of the plant...
Persistent link: https://www.econbiz.de/10012814364
Fiscal adjustments consisting of spending cuts or tax increases are generally presented as the unavoidable way for achieving public finance sustainability in the long term. However, this view of fiscal consolidation processes is limited as it leaves out other aspects related to public sector...
Persistent link: https://www.econbiz.de/10011691327
Fiscal adjustments consisting of spending cuts or tax increases are generally presented as the unavoidable way for achieving public finance sustainability in the long term. However, this view of fiscal consolidation processes is limited as it leaves out other aspects related to public sector...
Persistent link: https://www.econbiz.de/10011755954
Existing studies of agricultural production largely neglect technology heterogeneity. However, the assumption of homogeneous production may result in inadequate policy implications. There is a growing literature on this issue. In this paper we contribute to this literature by modelling the...
Persistent link: https://www.econbiz.de/10011578055