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From macro growth to disaggragated production studies

Førsund, Finn R.; Vislie, Jon - 2011

survey of his contributions is presented. The main focus in the paper is on his growth - production program constituting an …

Persistent link: https://www.econbiz.de/10010330229

Efficiency, Inefficiency and the MENA Frontier

Christopoulos, Dimitris; McAdam, Peter - 2015

In a stochastic frontier setting, we examine technical efficiency in the Middle East and North Africa (MENA). Evidence suggests that in addition to economic indicators, political and social ones play a key role in development and frontier technical efficiency profiles. The MENA have been...

Persistent link: https://www.econbiz.de/10011605802

Death to the Cobb-Douglas Production Function? A Quantitative Survey of the Capital-Labor Substitution Elasticity

Gechert, Sebastian; Havranek, Tomas; Irsova, Zuzana; … - 2019

also suggest that a failure to normalize the production function leads to a substantial upward bias in the estimated …

Persistent link: https://www.econbiz.de/10012061536

Cost efficiency of European cooperative banks

Kuc, Matej - 2018

This paper investigates the size-efficiency relation of European cooperative banks during the 2006-2015 period. We employ the Stochastic Frontier Analysis in order to obtain inefficiency estimates and its determinants on the set of 183 cooperative banks from 12 European countries. This work...

Persistent link: https://www.econbiz.de/10012063465

Cohesion Policy Meets Heterogeneous Firms

Fattorini, Loredana; Ghodsi, Mahdi; Rungi, Armando - 2018

In this paper, we empirically test the effects of the EU's 'cohesion policy' on the performance of 273,500 European manufacturing firms after combining regional policy data at NUTS 2 level with firm-level data. In a framework of heterogeneous firms and different absorptive capacity of regions,...

Persistent link: https://www.econbiz.de/10012099971

Econometric Estimation of the "Constant Elasticity of Substitution" Function in R: Package micEconCES

Henningsen, Arne; Henningsen, Géraldine - 2011

The Constant Elasticity of Substitution (CES) function is popular in several areas of economics, but it is rarely used in econometric analysis because it cannot be estimated by standard linear regression techniques. We discuss several existing approaches and propose a new grid-search approach...

Persistent link: https://www.econbiz.de/10012100970

Measuring Productivity using the Index Number Approach: An Introduction

McLellan, Nathan - 2004

This paper provides an introduction to productivity measurement using index number techniques. Attention is given to the construction of productivity series using common index number formulae, the economic and axiomatic approaches to selecting an index number formula, and the use of chaining....

Persistent link: https://www.econbiz.de/10012115557

Death to the Cobb-Douglas production function

Gechert, Sebastian; Havránek, Tomáš; Havránková, Zuzana - 2019

We show that the large elasticity of substitution between capital and labor estimated in the literature on average, 0.9, can be explained by three factors: publication bias, use of aggregated data, and omission of the first-order condition for capital. The mean elasticity conditional on the...

Persistent link: https://www.econbiz.de/10012140631

What determines the elasticity of substitution between capital and labor? A literature review

Knoblach, Michael; Stöckl, Fabian - 2019

substitution between capital and labor. Our focus is on the two-input constant elasticity of substitution (CES) production function … on the determinants of σ. We first review several approaches to the microfoundation of production functions, especially … the CES production function. Second, we outline the construction of an aggregate elasticity of substitution (AES) in a …

Persistent link: https://www.econbiz.de/10011954920

What determines the elasticity of substitution between capital and labor? A literature review

Knoblach, Michael; Stöckl, Fabian - 2019

substitution (CES) production function. By example of the U.S., we highlight the distinctive heterogeneity in empirical estimates … of production functions, especially the CES production function. Second, we outline the construction of an aggregate …

Persistent link: https://www.econbiz.de/10011964357