James Carroll () (Department of Economics, Trinity College Dublin) Carol Newman () (Department of Economics, Trinity College Dublin) Fiona Thorne () (Rural Economy Research Centre, Teagasc, Dublin, Ireland)
Abstract
This paper compares standard stochastic frontier models for panel data with a number of recently developed models designed to remove unobserved heterogeneity from the inefficiency component. Results are used to construct a generalised Malmquist total factor productivity (TFP) index. We conclude that the choice of approach makes little difference where the purpose of the study is to analyse aggregate trends in TFP and its components. However, where inefficiency estimates and their dispersion are of interest, attention should be paid to how the analyst’s interpretation of inefficiency relates to the underlying assumptions of the model that is used.
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Publisher Info
Paper provided by Trinity College Dublin, Department of Economics in its series Trinity Economics Papers with number
tep0907.
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Find related papers by JEL classification: D24 - Microeconomics - - Production and Organizations - - - Production; Capital and Total Factor Productivity; Capacity Q12 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Micro Analysis of Farm Firms, Farm Households, and Farm Input Markets
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