We investigate the behavior of three versions of the translog cost function : the standard Log-quadratic version and two nonlinear versions with exponential and linear technical progress biases, respectively. Their performances are assessed according to three criteria: (i)on theoretical...

In this paper we attempt to provide evidence on the structure of technology in the three industrial branches of French economy, when capital is treated as quasi-fixed input. However instead of choosing a single functional form as an approximation to the variable cost function, modified versions...

We investigate the behaviour of three flexible forms of the cost Function: the Translog, which is the most used in empirical analyses, Generalized Leontief and Symmetric Generalized McFadden, which both have also become popular. Their performances are evaluated by their abilities (i) to respect...

We investigate the behavior of three versions of the translog cost function: the standard Log-quadratic version and two nonlinear versions with exponential and linear technical progress biases, respectively. Their performances are assessed according to three criteria: (i) on theoretical ground,...

In this paper I concern the problem of properly specifying the structure of technology of French manufacturing industry, when capital is treated as quasi-fixed input. However instead of choosing a single functional form as an approximation to the variable cost function, modified versions of...

In this paper we report results of a rather successful attempt to provide evidence on the substitution possibilities between capital, labour, and energy in the three branches of French manufacturing industry. In order to assess the sensitivity of results to the choice of the functional form and...

In explaining economic phenomena, economic analysis concentrates on selected influences and fixes the host of other factors under a ceteris paribus clause. This view, which goes back to Alfred Marshall (1842-1924), is developed in the first part of the book. Aggregation is viewed as a particular...

Life annuities provide a guaranteed income for the remainder of the recipient’s lifetime, and therefore, annuitization presents an important option when choosing an adequate investment strategy for the retirement ages. While there are numerous research articles studying annuities from a...

Even 50 years after Modigliani/Miller’s irrelevance theorem, the basic question of how firms choose their capital structure remains unclear. This survey paper aims at summarizing and discussing corresponding recent developments in empirical capital structure research, which, in our view, are...