Group-specific stochastic production frontier models with parametric specifications |
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Authors: | Young Hoon Lee |
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Affiliation: | aSogang University, Sinsoo-dong 1, Mapo-gu, Seoul 121-742, South Korea |
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Abstract: | This paper develops a stochastic frontier model that not only focuses more on group-specific temporal variations in technical efficiency rather than individual temporal variations, but also allows for a parametric function of the time-varying coefficient of the efficiency factor. We derived the concentrated least squares estimator and its asymptotic properties. When applied to the Penn World data set, the group-specific models yield much more variation in the temporal patterns of efficiency across countries. This application demonstrates the feasibility of applying a group-specific stochastic frontier model with a parametric function of temporal pattern to a real empirical analysis. |
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Keywords: | Group-specific temporal pattern Panel data Stochastic frontiers Time-varying technical efficiency |
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