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.
Volume (Year): 24 (1999)
Issue (Month): 2 ()
|Note:||received: September 1996/final version received: September 1997|
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