In the literature two approaches of productivity analyses can be found, namely the neoclassical approach and the frontier approach. Neoclassical analysis weights inputs by value shares, a procedure that requires data on factor input shares or prices. This approach imputes productivity growth to factors, but cannot distinguish a movement towards the efficiency frontier and a movement of the latt...

We analyze the macroeconomic substitution between clean and dirty inputs through lens of production isoquants derived from a numerical bottom-up model electricity production. This approach also allows us to study high shares energy not observable today isolate mechanisms that impact elasticity inputs. Our results, for first time, demonstrate aggregate functions used in models can represent comp...

creating confidence in the stock market through a secure environment is one of the main achievements of stock markets in the world. in the stock markets of developed countries, there are markets which provide confidence and reduce the risks resulting from the fluctuation of share prices. these markets are called “stock transaction choice markets”. while comparing stock transaction choice contra...

This draft chapter, prepared for inclusion in the (prospective) Handbook of Production Economics, Vol. 1 (Theory), edited by Subash Ray, Robert Chambers, and Subal Kumbhakar, lays out the theoretical foundation of the measurement of the degree of substitutability among inputs utilized in a production process. It proceeds from the well-settled (Hicksian) notion of this measure for two inputs (ty...

Abstract We tackle the problem of simulating seat- and vote-shares for a party system given size. show how these shares can be generated using unordered ordered Dirichlet distributions. that distribution with mean vector by rule described in Taagepera Allik (2006, Electoral Studies 25, 696–713) fits real-world data almost as well saturated model where there is parameter each rank/system size co...

The purpose of this paper is to present a new approach to econometric modeling of substitution and technical change. Substitution is determined by observable variables, such as prices of output and inputs and shares of inputs in the value of output. Our principal innovation is to represent the rate and biases of technical change by unobservable or latent variables. This representation is consid...