Estimation of technical change: Direct semi/nonparametric approaches

Subal C. Kumbhakar; Mingyang Li; Shunan Zhao

doi:10.1016/j.econlet.2021.109734

Estimation of technical change: Direct semi/nonparametric approaches

Subal C. Kumbhakar
, Mingyang Li
, Shunan Zhao

Economics

Binghamton University

Research output: Contribution to journal › Article › peer-review

Abstract

This paper introduces some novel approaches to formulate and estimate technical change (TC) nonparametrically in a variety of cases without estimating the underlying production technology that is usually specified by a production, cost or transformation function. The binding theme in all our formulations of TC is the use of the first-order conditions of profit maximization or cost minimization. The new TC measures are observation-specific due to their nonparametric nature.

Original language	English
Article number	109734
Journal	Economics Letters
Volume	199
DOIs	https://doi.org/10.1016/j.econlet.2021.109734
State	Published - Feb 2021

Keywords

Cost minimization
Nonparametric
Profit maximization
Semiparametric smooth coefficient
Technical change

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10.1016/j.econlet.2021.109734

Cite this

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title = "Estimation of technical change: Direct semi/nonparametric approaches",

abstract = "This paper introduces some novel approaches to formulate and estimate technical change (TC) nonparametrically in a variety of cases without estimating the underlying production technology that is usually specified by a production, cost or transformation function. The binding theme in all our formulations of TC is the use of the first-order conditions of profit maximization or cost minimization. The new TC measures are observation-specific due to their nonparametric nature.",

keywords = "Cost minimization, Nonparametric, Profit maximization, Semiparametric smooth coefficient, Technical change",

author = "Kumbhakar, \{Subal C.\} and Mingyang Li and Shunan Zhao",

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AU - Kumbhakar, Subal C.

AU - Li, Mingyang

AU - Zhao, Shunan

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N2 - This paper introduces some novel approaches to formulate and estimate technical change (TC) nonparametrically in a variety of cases without estimating the underlying production technology that is usually specified by a production, cost or transformation function. The binding theme in all our formulations of TC is the use of the first-order conditions of profit maximization or cost minimization. The new TC measures are observation-specific due to their nonparametric nature.

AB - This paper introduces some novel approaches to formulate and estimate technical change (TC) nonparametrically in a variety of cases without estimating the underlying production technology that is usually specified by a production, cost or transformation function. The binding theme in all our formulations of TC is the use of the first-order conditions of profit maximization or cost minimization. The new TC measures are observation-specific due to their nonparametric nature.

KW - Cost minimization

KW - Nonparametric

KW - Profit maximization

KW - Semiparametric smooth coefficient

KW - Technical change

UR - https://www.scopus.com/pages/publications/85099239011

U2 - 10.1016/j.econlet.2021.109734

DO - 10.1016/j.econlet.2021.109734

M3 - Article

SN - 0165-1765

VL - 199

JO - Economics Letters

JF - Economics Letters

M1 - 109734

ER -

Estimation of technical change: Direct semi/nonparametric approaches

Abstract

Keywords

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