Rights statement: This is the peer reviewed version of the following article:Tsionas, M.G. and Kumbhakar, S.C. (2023), Productivity and Performance: A GMM approach. Oxf Bull Econ Stat. https://doi.org/10.1111/obes.12530 which has been published in final form at https://onlinelibrary.wiley.com/doi/10.1111/obes.12530 This article may be used for non-commercial purposes in accordance With Wiley Terms and Conditions for self-archiving.
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Research output: Contribution to Journal/Magazine › Journal article › peer-review
Research output: Contribution to Journal/Magazine › Journal article › peer-review
}
TY - JOUR
T1 - Productivity and Performance
T2 - A GMM approach
AU - Tsionas, Mike G.
AU - Kumbhakar, Subal C.
N1 - This is the peer reviewed version of the following article:Tsionas, M.G. and Kumbhakar, S.C. (2023), Productivity and Performance: A GMM approach. Oxf Bull Econ Stat. https://doi.org/10.1111/obes.12530 which has been published in final form at https://onlinelibrary.wiley.com/doi/10.1111/obes.12530 This article may be used for non-commercial purposes in accordance With Wiley Terms and Conditions for self-archiving.
PY - 2023/4/30
Y1 - 2023/4/30
N2 - In this paper we propose a single-step generalized method of moments (GMM) approach to estimate a production function with multiple quasi-fixed and variable inputs as well as productivity and inefficiency. Our approach relies on the system consisting of the production function, the first-order conditions of expected profit maximization with respect to the variable inputs, as well as general formulations for dynamic productivity and inefficiency. The estimation procedure takes care of correlations of both productivity and inefficiency with the variable inputs without using any distributional assumptions on the error terms (including inefficiency) in the system. We use Indonesian manufacturing census data to illustrate workings of our procedure.
AB - In this paper we propose a single-step generalized method of moments (GMM) approach to estimate a production function with multiple quasi-fixed and variable inputs as well as productivity and inefficiency. Our approach relies on the system consisting of the production function, the first-order conditions of expected profit maximization with respect to the variable inputs, as well as general formulations for dynamic productivity and inefficiency. The estimation procedure takes care of correlations of both productivity and inefficiency with the variable inputs without using any distributional assumptions on the error terms (including inefficiency) in the system. We use Indonesian manufacturing census data to illustrate workings of our procedure.
KW - Statistics, Probability and Uncertainty
KW - Economics and Econometrics
KW - Social Sciences (miscellaneous)
KW - Statistics and Probability
U2 - 10.1111/obes.12530
DO - 10.1111/obes.12530
M3 - Journal article
VL - 85
SP - 331
EP - 344
JO - Oxford Bulletin of Economics and Statistics
JF - Oxford Bulletin of Economics and Statistics
SN - 0305-9049
IS - 2
ER -