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We show standard methods to estimate production functions do not identify markups.This nonidentification creates spurious skewness in estimated markup distributions.We also show that ex-ante structure on the returns to scale solves the identificationproblem. In US public firm data and in a Monte...
Persistent link: https://www.econbiz.de/10012890046
the interest rates are not defined and can assume any value greater than -1.There is no neo-classical theory of the rate …
Persistent link: https://www.econbiz.de/10012891047
This paper analyzes the effect of agglomeration economies on firms' total factor productivity. We propose the use of a … firms' own efforts to foster productivity through creating and absorbing knowledge. Finally, radii as well as administrative …
Persistent link: https://www.econbiz.de/10012892012
environmental impacts of agriculture provide external benefits while lowering productivity. Policy analysis of the productivity … reduce yield, frontier analysis without the endogeneity correction greatly understates productivity losses. In other words …
Persistent link: https://www.econbiz.de/10012896613
This paper studies the impact of productivity on the flow of financial resources to and from firms. To do this we use … machine learning methods (Lasso, XGBoost) to derive a new measure of firm productivity using standard corporate accounts … expenses, iii) total assets. Empirically finance typically flows away from high productivity firms. We provide a model to …
Persistent link: https://www.econbiz.de/10012897087
Extant literature on cost stickiness has focused on how firm-specific characteristics affect the asymmetric cost behavior. In this paper, we explore how a firm's operating environment affects the firm's cost stickiness. Specifically, we examine the effect of product market competition on cost...
Persistent link: https://www.econbiz.de/10012935556
-setting power) and (iii) revenue productivity. We apply this framework to analyze whether the pricing behavior of firms in product …
Persistent link: https://www.econbiz.de/10012940834
-setting power) and (iii) revenue productivity. We apply this framework to analyze whether the pricing behavior of firms in product …
Persistent link: https://www.econbiz.de/10012942170
Exporters tend to be more productive than non-exporting firms, and uncovering the extent of these productivity … productivity. I provide a new synthesized (nonparametric) methodology for the structural control-function-based identification of … unobserved firm productivity in the presence of (i) endogenous self-selection into export markets, (ii) dependence of …
Persistent link: https://www.econbiz.de/10012944269
While the output of a team is evident, the productivity of each team member is typically not readily identifiable. In … this paper we consider the problem of measuring the productivity of team members. We propose a new concept of coworker … productivity, which we refer to as eigenvalue productivity (EVP). We demonstrate the existence and uniqueness of our concept and …
Persistent link: https://www.econbiz.de/10012944882