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Firm-heterogeneity, persistent and transient technical inefficiency: a generalized true random effects model

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Firm-heterogeneity, persistent and transient technical inefficiency : a generalized true random effects model. / Tsionas, Michael; Kumbhakar, Subal C.

In: Journal of Applied Econometrics, Vol. 29, No. 1, 01.2014, p. 110-132.

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Tsionas, Michael ; Kumbhakar, Subal C. / Firm-heterogeneity, persistent and transient technical inefficiency : a generalized true random effects model. In: Journal of Applied Econometrics. 2014 ; Vol. 29, No. 1. pp. 110-132.

Bibtex

@article{d8991eeb37d14eabb4bb2292d29624cf,
title = "Firm-heterogeneity, persistent and transient technical inefficiency: a generalized true random effects model",
abstract = "This paper considers a panel data stochastic frontier model that disentangles unobserved firm effects (firm heterogeneity) from persistent (time-invariant/long-term) and transient (time-varying/short-term) technical inefficiency. The model gives us a four-way error component model, viz., persistent and time-varying inefficiency, random firm effects and noise. We use Bayesian methods of inference to provide robust and efficient methods of estimating inefficiency components in this four-way error component model. Monte Carlo results are provided to validate its performance. We also present results from an empirical application that uses a large panel of US commercial banks",
author = "Michael Tsionas and Kumbhakar, {Subal C.}",
year = "2014",
month = "1",
doi = "10.1002/jae.2300",
language = "English",
volume = "29",
pages = "110--132",
journal = "Journal of Applied Econometrics",
issn = "0883-7252",
publisher = "John Wiley and Sons Ltd",
number = "1",

}

RIS

TY - JOUR

T1 - Firm-heterogeneity, persistent and transient technical inefficiency

T2 - a generalized true random effects model

AU - Tsionas, Michael

AU - Kumbhakar, Subal C.

PY - 2014/1

Y1 - 2014/1

N2 - This paper considers a panel data stochastic frontier model that disentangles unobserved firm effects (firm heterogeneity) from persistent (time-invariant/long-term) and transient (time-varying/short-term) technical inefficiency. The model gives us a four-way error component model, viz., persistent and time-varying inefficiency, random firm effects and noise. We use Bayesian methods of inference to provide robust and efficient methods of estimating inefficiency components in this four-way error component model. Monte Carlo results are provided to validate its performance. We also present results from an empirical application that uses a large panel of US commercial banks

AB - This paper considers a panel data stochastic frontier model that disentangles unobserved firm effects (firm heterogeneity) from persistent (time-invariant/long-term) and transient (time-varying/short-term) technical inefficiency. The model gives us a four-way error component model, viz., persistent and time-varying inefficiency, random firm effects and noise. We use Bayesian methods of inference to provide robust and efficient methods of estimating inefficiency components in this four-way error component model. Monte Carlo results are provided to validate its performance. We also present results from an empirical application that uses a large panel of US commercial banks

U2 - 10.1002/jae.2300

DO - 10.1002/jae.2300

M3 - Journal article

VL - 29

SP - 110

EP - 132

JO - Journal of Applied Econometrics

JF - Journal of Applied Econometrics

SN - 0883-7252

IS - 1

ER -