Journal
EUROPEAN JOURNAL OF OPERATIONAL RESEARCH
Volume 245, Issue 1, Pages 194-202Publisher
ELSEVIER SCIENCE BV
DOI: 10.1016/j.ejor.2015.03.003
Keywords
Economics; Cost function; Semiparametric smooth coefficient model; Stochastic frontier model; Decomposition
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This paper proposes a flexible stochastic cost frontier panel data model where the technology parameters are unknown smooth functions of firm- and time-effects, which non-neutrally shift the cost frontier. The model decomposes inefficiency into firm and time-specific components and productivity change into inefficiency change, technical change and scale change. We then apply the proposed methodology to the Norwegian salmon production data and analyze technical efficiency as well as productivity changes. (C) 2015 Elsevier B.V. All rights reserved.
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