Download or read book Essays on Production Function Estimation written by Mert Demirer and published by . This book was released on 2020 with total page 201 pages. Available in PDF, EPUB and Kindle. Book excerpt: This first chapter develops a new method for estimating production functions with factor-augmenting technology and assesses its economic implications. The method does not impose parametric restrictions and generalizes prior approaches that rely on the CES production function. I first extend the canonical Olley-Pakes framework to accommodate factor-augmenting technology. Then, I show how to identify output elasticities based on a novel control variable approach and the optimality of input expenditures. I use this method to estimate output elasticities and markups in manufacturing industries in the US and four developing countries. Neglecting labor-augmenting productivity and imposing parametric restrictions mismeasures output elasticities and heterogeneity in the production function. My estimates suggest that standard models (i) underestimate capital elasticity by up to 70 percent (ii) overestimate labor elasticity by up to 80 percent. These biases propagate into markup estimates inferred from output elasticities: markups are overestimated by 20 percentage points. Finally, heterogeneity in output elasticities also affects estimated trends in markups: my estimates point to a much more muted markup growth (about half) in the US manufacturing sector than recent estimates. The second chapter develops partial identification results that are robust to deviations from the commonly used control function approach assumptions and measurement errors in inputs. In particular, the model (i) allows for multi-dimensional unobserved heterogeneity,(ii) relaxes strict monotonicity to weak monotonicity, (iii) accommodates a more flexible timing assumption for capital. I show that under these assumptions production function parameters are partially identified by an 'imperfect proxy' variable via moment inequalities. Using these moment inequalities, I derive bounds on the parameters and propose an estimator. An empirical application is presented to quantify the informativeness of the identified set. The third chapter develops an approach in which endogenous networks is a source of identification in estimations with network data. In particular, I study a linear model where network data can be used to control for unobserved heterogeneity and partially identify the parameters of the linear model. My method does not rely on a parametric model of network formation. Instead, identification is achieved by assuming that the network satisfies latent homophily - the tendency of individuals to be linked with others who are similar to themselves. I first provide two definitions of homophily: weak and strong homophily. Then, based on these definitions, I characterize the identified sets and show that they are bounded under weak conditions. Finally, to illustrate the method in an empirical setting, I estimate the effects of education on risk preferences and peer effects using social network data from 150 Chinese villages.
Download or read book An Essay on C E S Production Function Theory and Estimation written by Francisco Jorge Patino-Leal and published by . This book was released on 1971 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays on Productivity Uncertainty and Firm Activities written by Shengyu Li and published by . This book was released on 2014 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Three Essays on the Econometrics of Production Productivity and Capacity Utilization written by Menahem Milo Prywes and published by . This book was released on 1981 with total page 394 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Three Essays in Estimating Intertemporal Substitution Elasticities of Home Production written by Kun Nam James Yu and published by . This book was released on 2008 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays on Productivity and Distortions written by Kun Li and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: My dissertation uses theoretical tools and empirical methods to address substantive questions in the intersection of Macroeconomics and Industrial Organization. In particular, my research focuses on understanding the underlying forces that determine efficiency and distortions. In the first chapter, Privatization, Distortions, and Productivity, I ask that to what extent and through what channels privatization has contributed to the rapid growth of GDP and TFP in China's manufacturing sector. Privatization, like many other industrial policies, affects firms' output and productivity through a direct effect on productivity and an indirect effect on resource allocation. Understanding the consequences of privatization on both productivity and allocative efficiency is crucial for policy evaluation and subsequent reforms. To do so, I first develop a method to separately identify productivity and factor misallocations. This links to two distinct literatures. One is the macro literature on misallocation that use wedges or distortions to measure the deviation from firm's optimal scale. The other is the empirical IO literature to estimate production function using input and output, together with firm's optimal choices. I augment the empirical production function estimation framework by introducing wedges between marginal revenues and marginal costs as an additional unobserved variable that distorts the firms output away from their optimal input choices. And I show that how to identify and estimate productivity, distortions and parameters in production function. I then estimate the productivity and distortion effects of privatization. Finally I propose a decomposition method for aggregate productivity growth to explicitly account for the direct effect of privatization. Second, I discussed market frictions, specifically search and informational frictions that prevents efficient allocations in the labor markets. In Understanding Transitions using Directed Search with Mike Peters (UBC) and Steven Xu (HKU), we develop a directed search model to study worker transitions between jobs in the French labor market. In particular, the model we consider allows workers to have incomplete information about each other's' marketable characteristics (types) at the point where they make their search decisions. The theory provides a series of testable predictions about the relationship between the wage a worker receives at the job that he or she leaves, and the wage they get at their next job. The paper then uses data from the French DADS data set to study transitions in a variety of different labor markets in France in 2007, and compares these transitions to what is predicted by the theory. We find that the labor markets for skilled workers and industrial type of workers support more of our model. Third, I explore the return of productivity and distortions in scientific world. In Is Citation Behavior Biased? The Influence of Journal Editors with Bruno Biais (TSE) and Augustin Landier (TSE), we test the null hypothesis that the number of citations provides an unbiased measure of an article's scientific value. To do so, we exploit a shock that is exogenous to the scientific value of a paper, namely the ending time of editorial appointments of colleagues of a paper's author(s). We show that during the course of an editor's appointment, the citation rates of her papers in the journal she edits go up by 23 percentage points. During the same period, these articles don't have any significant citation premium at other journals. The citation premium fades away when the editor steps down. The same phenomenon applies to colleagues of the editor. This provides a counterexample to the null hypothesis that is both large in size and in the population of papers that is affected.
Download or read book Essays in Banking and Production written by Pradeep Kumar and published by . This book was released on 2013 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays in Honor of Subal Kumbhakar written by Christopher F. Parmeter and published by Emerald Group Publishing. This book was released on 2024-04-05 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is the editor’s distinct privilege to gather this collection of papers that honors Subhal Kumbhakar’s many accomplishments, drawing further attention to the various areas of scholarship that he has touched.
Download or read book ESSAYS ON APPLIED PRODUCTION ANALYSIS STOCK MARKET HOSPITALS SWITCHING written by Eduardo Ley and published by . This book was released on 1991 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: increases in outputs which could be obtained if the inefficient hospitals chose to use the efficient production plans.
Download or read book Growth Productivity Unemployment written by Robert M. Solow and published by MIT Press. This book was released on 1990 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: The essays in this book extend and elaborate on many of the important ideas Solow has either originated or developed in the past three decades.
Download or read book Essays in Production Function Analysis and Application to the Leontief Paradox of International Trade written by Simone Clemhout and published by . This book was released on 1963 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays on Nonseparable Models written by Jiangang Zeng and published by . This book was released on 2020 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation consists of three chapters in econometrics with a focus on nonseparable models. Nonseparable models has a wide application in many areas of economics such as industrial organization and labor economics. The first chapter of this dissertation studies a partially separable panel data model with multiple shocks, emphasizing an application to estimation of production functions. The model is partially separable in the sense that the marginal effects of the explanatory variables depend on the unobservables, but not on some of the other explanatory variables. Identification and estimation results are provided for the unspecified functions and error-disturbance distributions in the model. Identification requires assumptions on the existence of valid instruments (used in a control function approach), conditional independence among shocks, and shape restrictions on the unknown functions. Under additional regularity conditions, a consistent estimator is provided and its non-standard rate of convergence is established. In the second chapter, the model studied in the first chapter is applied to estimation of a partially separable production function with a Hicksian productivity shock, a labor productivity shock, and a capital productivity shock to investigate the roles of both Hicksian and non-Hicksian shocks of Spanish firms from 1990 to 2006, controlling for the endogeneity of inputs. The estimation results show that all types of productivity shocks are heterogenous across firms and over years, and greatly affect the levels of output. The model also generates plausible estimates of the effects of capital on output and labor on output. The third chapter studies studies a fully nonseparable production function. It extends the standard Cobb-Douglas production function by relaxing the additive functional form assumption. Besides this major difference, this paper also relaxes the assumptions that the productivity shock follows an M-th Markov process and the functional form is constant over years, both of which are widely imposed in production function literature. Some standard assumptions in production function literature are imposed to identify the unspecified time-varying production function, the unobserved productivity shock and the unobserved random shock. The productivity shock is identified from the investment equation by using the capital and investment in previous period as control variables. The identified productivity shock is then used to identify the production function and the random shock. An easy to implement kernel estimator is proposed. These estimator is shown to be consistent. A Monte-Carlo study indicates the estimator performs very well in finite samples. The model is applied to study Spanish firms behaviors from 2004 to 2006. The estimation results show the productivity shocks are widely distributed and greatly affect the levels of output. The estimation results also show oscillating capital productivity and labor productivity as capital and labor change
Download or read book Economic Models Estimation and Risk Programming Essays in Honor of Gerhard Tintner written by K. A. Fox and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 474 pages. Available in PDF, EPUB and Kindle. Book excerpt: These essays in honor of Professor Gerhard Tintner are substantive contributions to three areas of econometrics, (1) economic models and applications,. (2) estimation, and (3) stochastic programming, in each of which he has labored with outstanding success. His own work has extended into multivariate analysis, the pure theory of decision-making under un certainty, and other fields which are not touched upon here for reasons of space and focus. Thus, this collection is appropriate to his interests but covers much less than their full range. Professor Tintner's contributions to econometrics through teaching, writing, editing, lecturing and consulting have been varied and inter national. We have tried to highlight them in "The Econometric Work of Gerhard Tintner" and to place them in historical perspective in "The Invisible Revolution in Economics: Emergence of a Mathematical Science. " Professor Tintner's career to date has spanned the organizational life of the Econometric Society and his contributions have been nearly coextensive with its scope. His principal books and articles up to 1968 are listed in the "Selected Bibliography. " Professor Tintner's current research involves the intricate problems of specification and application of stochastic processes to economic systems, particularly to growth, diffusion of technology, and optimal control. As always, he is moving with the econometric frontier and a portion of the frontier is moving with him. IV Two of the editors wrote dissertations under Professor Tintner's sup- vision; the third knew him as a colleague and friend.
Download or read book Essays on Microeconomics and Industrial Organisation written by Pablo Coto-Millán and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essays on Microeconomics and Industrial Organisation aim to serve as a source and work of reference and consultation for the field of Microeconomics in general and of Industrial Organisation in particular. Traditionally, Microeconomics is essentially taught as theory and hardly ever an estimation of a demand, production and cost function is offered . Over the last two decades, however, Microeconomics has greatly broadened its field of empirical application. Therefore, this text combines microeconomic theories with a variety of empirical cases. The standardised microeconomic analysis of demand, production and costs is set forth along with appropriate econometric techniques. The text consists of four parts: Demand, Production and Costs (Supply), Market and Industrial Structure and Failure of Market and Industrial Regulation. It includes eleven new chapters with respect to the first edition.
Download or read book Essays on Wage Formation and Globalization written by Andreas Hauptmann and published by wbv Media GmbH & Company KG. This book was released on 2015-12-15 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt: Warum zahlen manche Firmen nach Tarif, statt die Löhne individuell auszuhandeln? Zahlen Exportfirmen höhere Löhne als Firmen, die nicht exportieren und inwieweit wird dies von institutionellen Rahmenbedingungen bestimmt? Welche Zusammenhänge bestehen zwischen den Lohnstückkosten und der Exportstärke von Unternehmen? Mit diesen und weiteren Fragen befasst sich Andreas Hauptmann im vorliegenden Band. In mehreren Kapiteln legt der Autor dar, dass zwischen Löhnen, Globalisierung und institutionellen Kontextfaktoren vielfältige Wechselwirkungen bestehen.
Download or read book Essays on Labour Markets written by Sebastian Buhai and published by Rozenberg Publishers. This book was released on 2008 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Production Function Estimation with Industry Capacity Data written by Plutarchos Sakellaris and published by . This book was released on 2001 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt:
