Parametrizing nonparametric translog models: A goal programming/constrained regression study of U.S. manufacturing
This paper demonstrates how Goal Programming/Constrained Regression can be used for cross-checking results from standard econometric models as well as a stand alone methodology in empirical production analysis. For illustration, we re-examine Berndt and Wood's (BW) seminal study of the U.S. manufacturing industry. Whereas energy and capital were found to be complements in BW's study, we found them to be substitutes.
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Volume (Year): 24 (1999)
Issue (Month): 2 ()
|Note:||received: September 1996/final version received: September 1997|
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