The duality between cost and production function can be a key point to explore regulation process in Agent-Principal model because the Principal observes outputs in inputs and has asymmetric information about the cost by the Agent. This paper investigates the properties of production functions...

Many European countries have sought to increase the efficiency of national railroad companies through a range of reforms: separating infrastructure and operations, creating independent regulatory institutions and providing access to the network to third parties. To estimate the effects of...

This paper aims to analyse the impact of port demand variability on the allocative efficiency of Spanish port authorities during the period 1986-2007. From a distance function model we can obtain a measure of allocative efficiency using two different approaches: error components approach and...

The factor X in the RPI-X regulation aims to adjust price or revenue allowances to changes in total factor productivity and input prices. A cost Malmquist index can be applied to determine the efficient cost change (ECC). However, regulators typically do not have the necessary data on input...

Based on a yearly census of Indonesian manufacturing firms for 2000-2014, we investigate the effects of a sector-specific investment policy reform on firm productivity. Hereby we exploit a protectionist foreign direct investment reform (the so-called negative investment list) that designated...

Accounting for network operators' heterogeneity is of crucial importance for regulators. In contrast to observed heterogeneity, the consideration of unobserved differences is far more challenging. Most estimation models try to account for unobserved factors that impact the network operators'...

In this paper, we use a comprehensive and unique data set of financial, technical and structural characteristics of German distribution network operators from 2011 to 2017 to estimate both the transient and persistent cost efficiency of German distribution network operators. In addition, we...

Using firm-level data for a sample of European countries, we focus on the effects that product-market regulations have on firm-level TFP growth. We proxy regulatory burdens using the OECD indicators of sectoral non-manufacturing regulations. These allow accounting for both the direct effects of...

The factor X in the RPI-X regulation aims to adjust price or revenue allowances to changes in total factor productivity and input prices. A cost Malmquist index can be applied to determine the efficient cost change (ECC). However, regulators typically do not have the necessary data on input...