Production Function Estimation with Industry Capacity Data PDF Download

Author: Plutarchos Sakellaris
Publisher:
ISBN:
Category :
Languages : en
Pages : 13

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Author:
Publisher:
ISBN:
Category :
Languages : en
Pages :

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Author: Plutarchos Sakellaris
Publisher:
ISBN:
Category : Industrial productivity
Languages : en
Pages : 32

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Author: Richard E. Gift
Publisher: University Press of Kentucky
ISBN: 0813194636
Category : Business & Economics
Languages : en
Pages : 65

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Noting the variety of methods by which the concept of economic capacity is measured and the different ways that the concept is defined, Richard E. Gift seeks here to develop a conceptual framework within which a meaningful interpretation of these many definitions and measures of productive capacity can be made. Gift's method is to show the common structure that is shared by all capacity concepts and arguments. This structure consists of a list of variables that must always be considered when assessing the economic capacity of productive equipment. He then shows that the problems which arise in comparing capacities for different dates can be expressed in the form of a few simple generalizations. His third step is to illustrate specific problems. Finally, he sets out to develop a test for the logical completeness of any argument about capacity.

Author: Menahem Milo Prywes
Publisher:
ISBN:
Category : Chemical industry
Languages : en
Pages : 394

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Author: Xulia González
Publisher:
ISBN:
Category : Industrial productivity
Languages : en
Pages : 37

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The estimation of production functions with firm-level data is hampered by the non-observability of real quantities (output and inputs). As data on firm-level price changes become increasingly available, researchers use them to construct firm-specific price indices which are then used to deflate nominal quantities. We argue that this procedure does not address the fundamental problem of the non-observability of prices because it introduces an initial condition given by the price level in the base year chosen to construct the price index. Because this price level is unobserved, this procedure generates an omitted variable bias (OVB) whose importance can be gauged by the non-robustness of the estimated production function parameters to the choice of base year. The OVB disappears when firm-specific fixed effects are incorporated in the estimation of the production function. We illustrate using simulations and a panel of Spanish manufacturing firms.

Author: G. Hasenkamp
Publisher: Springer Science & Business Media
ISBN: 364245481X
Category : Business & Economics
Languages : en
Pages : 163

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This monograph is intended as a contribution to applied work in production theory by treating: a) The measurement problems involved whenever several outputs are jointly produced, and b) The (possible) econometric framework for estimating production function parameters whenever (relative) prices vary sufficiently over the observations. Thus, the "pure" theory of production, and the theory of non-linear regression is not treated in sufficient detail: for these topics we refer to the available literature~ for a comprehensive list of references we refer to Uebe (1975). Some years ago, papers by L. J. Lau and W. E. Diewert initiated my interest in duality within production theory, and then I started to appreciate R. W. Shephard's fundamental contribution to this topic. This monograph is a (minor) revision of a Ph. D. dissertation submitted to the Department of Economics, The University of Wisconsin, Madison, in August 1973. The Graduate School and the Social Systems Research Institute provided funds for the reported computer work, Lawrence R. Klein and Laurits R. Christensen provided data, and as a Graduate Student I received financial support in form of an University Fellowship~ all this is very much appreciated. With some nostalgia I think back to the enjoyable period of learning during the preparation of my diFosertation~ I appreciate the spirit within the department, and the guidance of my committee Arthur S. Goldberger, Dennis J. Aigner, and Laurits R. Christensen.

Author: Derek L. Bosworth
Publisher: Springer
ISBN: 1349086495
Category : Business & Economics
Languages : en
Pages : 464

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Author: Nicolás de Roux
Publisher:
ISBN:
Category :
Languages : en
Pages :

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This paper develops a new method for estimating production-function parameters that can be applied in differentiated-product industries with endogenous quality and variety choice. We take advantage of data on physical quantities of outputs and inputs from the Colombian manufacturing survey, focusing on producers of rubber and plastic products. Assuming constant elasticities of substitution of outputs and inputs within firms, we aggregate from the firm-product to the firm level and show how quality and variety choices may bias standard estimators. Using real exchange rates and variation in the "bite" of the national minimum wage, we construct external instruments for materials and labor choices. We implement a simple two-step instrumental-variables method, first estimating a difference equation to recover the materials and labor coefficients and then estimating a levels equation to recover the capital coefficient. Under the assumption that the instruments are uncorrelated with firms' quality and variety choices, this method yields consistent estimates, free of the quality and variety biases we have identified. Our point estimates differ from those of existing methods and changes in our preferred productivity estimator perform relatively well in predicting future export growth.

Author: Erkin Bairam
Publisher: Routledge
ISBN: 1351768905
Category : Business & Economics
Languages : en
Pages : 181

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Book Description
This title was first published in 2001. The objective of this book is to discuss specification and applications of new production, cost and profit functions. It is aimed at specialists in production, economic growth, costs, profits and applied econometrics in particular.