This paper presents a dynamic model of the industrial demands for structures, equipment, and blueand white-collar labor. Our approach is consistent with producers holding rational expectations and optimizing dynamically in the presence of adjustment costs, yet it permits generality of functional form regarding the technology. We represent the technology by a translog input requirement function ...

The Impact of Road Infrastructure on Productivity and Growth: Some Preliminary Results for the German Manufacturing Sector by Andreas Stephan Using time-series cross-section data from the manufacturing sector of the 11 Bundesländer from 1970 to 1993, we examine the impact of road infrastructure on private production applying three different approaches; i.e., a Cobb-Douglas production function, ...

In this paper, we formulate a behavioral model under uncertainty to estimate the total factor productivity in the Taiwan banking industry. In particular, the paper provides a model based on the safety-first rule under uncertainty to measure the risk premium in banking operations that are subject to loan default and other investment risks. Using panel data of forty banks in 1981-1996, a translog...

Cost function and factor demand estimation and measurement are among the most useful tools in economic analysis. This paper defines cost function flexibility in a new way that extends results and concepts from consumer demand theory to models of joint production. This applies to production models where input demand equations can be represented in terms of input prices, quasi-fixed inputs, and c...

The possible endogeneity of labor and capital in production functions, the consequent bias estimated elasticities, has been discussed addressed literature different ways since 1940s. This paper revisits an argument first outlined 1950s, which questioned function estimations. is that output, capital, employment are linked through a distribution accounting identity, key point recent overlooked. i...

1. INTRODUCTION When economic behavior is expressed as a continuous variable, a linear regression model is often adequate to describe the impact of economic factors on this behavior, or to predict this behavior in altered circumstances. For example, a study of food expenditures as a function of price indices for commodity groups and income, using households from the Consumer Expenditure Survey,...

abstractgiven the importance of the notion of efficiency in the country's economic growth, measuring the efficiency and the technology gap for various industries in order to achieve the best possible resource assignment, following the declared policy goals, is of particular importance for those countries, such as iran, which are now at the early stages of the industrialization process. hen...

This study aims to evaluate the economic and environmental efficiency of Asian African economies. In model proposed, Gross Domestic Product (GDP) is considered as desired output Greenhouse Gases (GHG), like carbon dioxide (CO2) emissions, undesirable output. Capital, labor, fossil fuels, renewable energy consumption are regarded inputs, GDP/CO2 ratio output, by using a log-linear Translog produ...