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A Dual Approach to Measuring the Nearness of Near-Monies

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  • Sims, Grant E
  • Takayama, Akira
  • Chao, Chi-chur

Abstract

Increasing returns to scale (RTS) is frequently po stulated as affecting productivity in surface coal mining. However, it is not cl ear whether increased capital intensity or increased output is the relevant phen omenon. A ray-homothetic production function that incorporates the capital labor mix and fixed site geology into the scale elasticity is presented and estimated with a micro (mine level)dataset. The results indicate that higher capital int ensity contributes to higher RTS for some types of capital equipment, but not al l. On the average, increasing RTS was found, with few mines approaching optimal scale. Copyright 1987 by MIT Press.

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  • Sims, Grant E & Takayama, Akira & Chao, Chi-chur, 1987. "A Dual Approach to Measuring the Nearness of Near-Monies," The Review of Economics and Statistics, MIT Press, vol. 69(1), pages 118-127, February.
    • Handle: RePEc:tpr:restat:v:69:y:1987:i:1:p:118-27
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    Cited by:

    1. Sharma, Subhash C. & Kandil, Magda & Chaisrisawatsuk, Santi, 2005. "Currency substitution in Asian countries," Journal of Asian Economics, Elsevier, vol. 16(3), pages 489-532, June.
    2. Cysne, Rubens Penha & Turchick, David, 2010. "Welfare costs of inflation when interest-bearing deposits are disregarded: A calculation of the bias," Journal of Economic Dynamics and Control, Elsevier, vol. 34(6), pages 1015-1030, June.
    3. Anderson, Richard G. & Duca, John V. & Fleissig, Adrian R. & Jones, Barry E., 2019. "New monetary services (Divisia) indexes for the post-war U.S," Journal of Financial Stability, Elsevier, vol. 42(C), pages 3-17.

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