We estimate the shadow prices of CO₂ emissions of electric utilities in the United States over the period from 2001 to 2014, using a random-coefficient, random-directional-vector directional output distance function (DODF) model. The main feature of this model is that both its coefficients and...

This paper provides estimates of bank efficiency and productivity in the United States, over the period from 1998 to 2005, using (for the first time) the globally flexible Fourier cost functional form, as originally proposed by Gallant (1982), and estimated subject to global theoretical...

Despite their great popularity, the conventional Divisia productivity indexes all ignore undesirable outputs. The purpose of this study is to Â…fill in this gap by proposing a primal Divisia-type productivity index that is valid in the presence of undesirable outputs. The new productivity...