In this paper we consider marginal cost estimation in Greek railways over the period 2000-2004. Marginal cost estimation has been recently an active area of research when disaggregated data by line of operation are available but factor price data are not available. We propose panel data...

Productivity and efficiency analyses have been indispensable tools for evaluating firms’ performance in the banking sector. In this context, the use of Artificial Neural Networks (ANNs) has been recently proposed in order to obtain a globally flexible functional form which is capable of...

In the debate concerning a country’s structural weaknesses there is an obvious neglect of space issues, an important component of which is regional imbalances. Yet, the persistence of such imbalances within countries has dictated the continuous investigation of their causes and of the required...

The paper is concerned with several kinds of stochastic frontier models whose likelihood function is not available in closed form. First, with output-oriented stochastic frontier models whose one-sided errors have a distribution other than the standard ones (exponential or half-normal). The...

The purpose of this paper is to provide an introduction to stochastic frontier models as seen from the point of view of Bayesian analysis. Stochastic frontier models are central in efficiency measurement, and recent advances in Bayesian computation allow us to explore significant extensions of...

The paper develops new indices of financial stability based on an explicit model of expected utility maximization by financial institutions subject to the classical technology restrictions of neoclassical production theory. The model can be estimated using standard econometric techniques, like...

In this article, we employ a number of econometric techniques in order to examine, on a quarterly basis, the transmission of fluctuations between the Greek and the other economic and monetary union (EMU) countries, respectively, after the introduction of the common currency in the period...

In this paper we propose new estimation techniques in connection with regression models whose errors have distributions which are members of the celebrated Pearson’s system. Efficient MCMC procedures are proposed in the context of likelihood—based inference. The new techniques are applied to...

Standard stochastic frontier models estimate log-linear specifications of production technology, represented mostly by production, cost, profit, revenue, and distance frontiers. We develop a methodology for stochastic frontier models of count data allowing for technological and inefficiency...

This paper studies the diffusion of knowledge and its consequences for local innovation production. In a common framework, we analyze the geographic reach of different channels of knowledge flows that thus far have been studied separately in the literature. To jointly estimate these flows, we...