Fixed-Effect Estimation of Highly-Mobile Production Technologies
AbstractRevised from November 2006 and July 2007. We consider fixed-effect estimation of a production function where inputs and outputs vary over time, space, and cross-sectional unit. Variability in the spatial dimension allows for time-varying individual effects, without parametric assumptions on the effects. Asymptotics along the spatial dimension provide consistency and normality of the marginal products. A finite-sample example is provided: a production function for bottom-trawler fishing vessels in the flatfish fisheries of the Bering Sea. We find significant spatial variability of output (catch) which we exploit in estimation of a harvesting function.
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Bibliographic InfoPaper provided by Center for Policy Research, Maxwell School, Syracuse University in its series Center for Policy Research Working Papers with number 87.
Length: 34 pages
Date of creation: Apr 2008
Date of revision:
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Panel data; time-varying individual effect; spatial econometrics; fisheries; agriculture; heteroskedasticity;
Other versions of this item:
- William C. Horrace & Kurt E. Schnier, 2010. "Fixed-Effect Estimation of Highly Mobile Production Technologies," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 92(5), pages 1432-1445.
- C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Longitudinal Data; Spatial Time Series
- D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
- N50 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - General, International, or Comparative
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-06-11 (All new papers)
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