Download or read book On the Identification of Production Functions written by Amit Gandhi and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The estimation of production functions suffers from an unresolved identification problem caused by flexible inputs, such as intermediate inputs. We develop an identification strategy for production functions based on a transformation of the firm's short-run first order condition that solves the problem for both gross output and value- added production functions. We apply our approach to plant-level data from Colombia and Chile, and find that a gross output production function implies fundamentally different patterns of productivity heterogeneity than a value-added specification. This finding is consistent with our analysis of the bias induced by the use of value-added.
Download or read book Production Functions written by Derek L. Bosworth and published by Farborough, Eng. : Saxon House. This book was released on 1976 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: The johansen schema; An integrated system of production: comments and criticisms; The ex ante function; The ex ante function and the ex post micro function; Aggregate putty-clay functions; Agtregate neoclassical production functions; Neoclassical production functions: fact or fantasy? Production functions - some conclusions.
Download or read book Estimation and Identification of Cobb Douglas Production Functions written by Marc Nerlove and published by . This book was released on 1965 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt: An illustrative material in a mathematical variant of intermediate price theory. Discusses the possibilities of identification and estimation of production function parameter under dynamic optimization models.
Download or read book Nonparametric identification and estimation of production functions using control function approaches to endogeneity written by Jian Hong and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Production Functions written by Zvi Griliches and published by . This book was released on 1995 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: Some aspects of the econometric estimation of production functions are discussed, focussing primarily on the issue of simultaneity and reviewing the stream of criticisms of Douglas' work and the response to it. We look in particular at the work that uses panel data on micro data for plants or firms and at some more recent multi-equation extensions of it. We find that researchers, in trying to evade the simultaneity problem, have shifted to the use of thinner and thinner slices of data, exacerbating thereby other problems and misspecifications. We describe the need for better data, especially on product prices at the individual observation level and on relevant cost and demand shifters, and for better behavioral theories which would encompass the large amount of heterogeneity observed at the micro level.
Download or read book Production Economics An Empirical Approach written by Charles Britt Moss and published by World Scientific. This book was released on 2022-02-25 with total page 576 pages. Available in PDF, EPUB and Kindle. Book excerpt: Production economics is that branch of microeconomics that examines producer decisions. This book focuses on the empirical estimation of these relationships using primal, dual, and differential specifications. The primal specification models production decisions based on the production function — estimation of the input/output relationship and the derivation of optimization behavior from this technical relationship. The dual approach estimates production decisions using economic information such as input and output prices. The textbook then develops the linkages between these relationships. The differential specification is an alternative approach derived from changes in the first-order conditions from cost minimizing behavior. In each case, the theoretical development is followed by different empirical specifications that can be used to estimate the producer's choice.
Download or read book Estimation and Identification of Coo Douglas Production Functions written by Marc Nerlove and published by . This book was released on 1965 with total page 193 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Production Function Estimation Robust to Flexible Timing of Labor Input written by Kyoo il Kim and published by . This book was released on 2019 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: Control function approaches to estimating production functions rely on a proxy that is monotone in an unobserved scalar productivity conditioning on other state variables. Ackerberg, Caves, and Frazer (2015) point out a potential functional dependence problem when conditioning only on capital. They provide a simple solution by conditioning on both capital and labor. This approach allows flexible timing of labor input for when firms learn all or part of their productivity. However, we demonstrate that ACF's moment condition may suffer from weak identification, and its significance depends on the timing of labor input. We then propose easy-to-implement modified procedures that remedy these issues, and provide Monte Carlo evidence. Estimation of production functions with flexible timing assumption of inputs is important because it can allow for unobserved, serially correlated, firm-specific wage shocks, labor being chosen prior to other variable inputs, or labor having dynamic implications. Moreover, since the exact timing of input choices is unknown and even may differ across firms in practice, our proposal is valuable as it fully incorporates the flexible framework but avoids weak identification.
Download or read book Estimation and Identification of Coob Douglas Production Functions written by Marc Nerlove and published by . This book was released on 1965 with total page 193 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Production Functions and Aggregation written by Kazuo Satō and published by . This book was released on 1975 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic research monograph on the economic theory of production functions and aggregation - includes a bibliography pp. 301 to 307.
Download or read book Homogeneous and Nonhomogeneous Production Functions Theory and Applications written by Erkin Bairam and published by . This book was released on 1994 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study reveiws and applies old and new production functions. The theoretical part of the book critically examines both homogenous and non-homogenous production function literature. The applied part uses some of these production functions to estimate appropriate functions for different developed and underdeveloped countries, as well as for different industrial sectors.
Download or read book Identification and Estimation of Production Function with Unobserved Heterogeneity written by Hiroyuki Kasahara and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Production Economics A Dual Approach to Theory and Applications written by Melvyn Fuss and published by Elsevier. This book was released on 2014-06-28 with total page 361 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contributions to Economic Analysis: Production Economics: A Dual Approach to Theory and Applications, Volume 2 focuses on the theory of production from the standpoint of the "dual", the relationships between economic observables which are dual to physical technology. The selection first ponders on duality, intermediate inputs and value-added, Hicks' aggregation theorem and the existence of a real value-added function, and homotheticity and real value-added in Canadian manufacturing. Discussions focus on real value-added and the production structure, estimation of the production structure, double deflation and real value-added, measurement of total productivity, and duality between direct and conditional indirect utility functions. The book then examines the estimation techniques for the elasticity of substitution and other production parameters and measurement of the elasticity of factor substitution and bias of technical change. The publication takes a look at the identification of technical change in the electricity generating industry, factor substitution in electricity generation, and the effectiveness of rate-of-return regulation. Topics include statistical tests of regulatory effectiveness, profit function for a regulated firm, tests of the structure of technology, identification problems in the measurement of technical change, and measurement of disembodied technical change. The selection is a valuable source of information for economists and researchers interested in production economics.
Download or read book Identification and Estimation of Elasticities of Substitution for Firm Level Production Functions Using Aggregative Data written by George Edward Battese and published by . This book was released on 1986 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Specification and Estimation of Multiple Output Production Functions written by G. Hasenkamp and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 163 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book The Training Within Industry Program written by and published by . This book was released on 1945 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Estimation and Identification of Cobb Douglas Production Function written by Marc Nerlove and published by . This book was released on 1965 with total page 193 pages. Available in PDF, EPUB and Kindle. Book excerpt:
