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Methodological Reflections on the Short-Run Johansen Industry Model in Relation to Capacity Management

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Author Info
Vestergaard, Niels
Squires, Dale
Kerstens, Kristiaan

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Abstract

The specification of a convex production technology is a potential issue in estimating firm-level Johansen plant capacity utilisation rates and their subsequent use in the short-run Johansen industry capacity model of the fishery. There are different plant capacity utilisation estimates with convex and nonconvex technologies. When entered as parameters in the short-run Johansen industry model, this leads to different distributions in the activity vectors. With non-convex technology, more vessels remain active in the fleet, and there is no longer an overestimation of the number of decommissioned vessels compared to the use of a convex technology. A second methodological reflection involves a way to trace the evolution of capacity over time and the possibility of formulating multi-period, short-run Johansen industry models using appropriate discrete time Malmquist productivity indices. Danish vessels provide an illustration for the convexity issue.

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Publisher Info
Article provided by Marine Resources Foundation in its journal Marine Resource Economics.

Volume (Year): 20 (2005)
Issue (Month): 4 ()
Pages:
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Handle: RePEc:ags:mareec:28150

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Related research
Keywords: Convexity; plant capacity; short-run Johansen industry model; Malmquist productivity index; Danish vessels; vessel decommissioning; D24; Q22; Resource /Energy Economics and Policy;

References listed on IDEAS
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