Journal
JOURNAL OF ECONOMETRICS
Volume 136, Issue 1, Pages 31-64Publisher
ELSEVIER SCIENCE SA
DOI: 10.1016/j.jeconom.2005.07.009
Keywords
data envelopment analysis; DEA; bootstrap; technical efficiency; nonparametric; two-stage estimation
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Many papers have regressed non-parametric estimates of productive efficiency on environmental variables in two-stage procedures to account for exogenous factors that might affect firms' performance. None of these have described a coherent data-generating process (DGP). Moreover, conventional approaches to inference employed in these papers are invalid due to complicated, unknown serial correlation among the estimated efficiencies. We first describe a sensible DGP for such models. We propose single and double bootstrap procedures; both permit valid inference, and the double bootstrap procedure improves statistical efficiency in the second-stage regression. We examine the statistical performance of our estimators using Monte Carlo experiments. (c) 2005 Elsevier B.V. All rights reserved.
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