A Dynamic Characterization of Efficiency
The definition and measurement of dynamic economic performance has been addressed obliquely in the literature with the notions of scope economies and capacity utilization measures, but little work has focused on develop the static theory analogs of efficiency measures into the dynamic context. This paper is an attempt to identify some of the conceptual and methodological issues to be addressed. A model allowing for dynamic production decisions in the face of inefficiency is presented to illustrate some of the issues and the extensions necessary to identify truly dynamic performance measures.
|Date of creation:|
|Date of revision:||00 Oct 2006|
|Contact details of provider:|| Postal: Gallos - Rethymno 74100|
Phone: +30 831 77405
Fax: +30 831 77406
Web page: http://economics.soc.uoc.gr/
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Fare,Rolf & Grosskopf,Shawna & Lovell,C. A. Knox, 2008.
Cambridge University Press, number 9780521072069.
- Rungsuriyawiboon, Supawat & Stefanou, Spiro E., 2007.
"Dynamic Efficiency Estimation: An Application to U.S. Electric Utilities,"
Journal of Business & Economic Statistics,
American Statistical Association, vol. 25, pages 226-238, April.
- Supawat Rungsuriyawiboon & Spiro E. Stefanou, 2003. "Dynamic Efficiency Estimation: An Application to US Electric Utilities," CEPA Working Papers Series WP052003, School of Economics, University of Queensland, Australia.
- P. R. Kleindorfer & C. H. Kriebel & G. L. Thompson & G. B. Kleindorfer, 1975. "Discrete Optimal Control of Production Plans," Management Science, INFORMS, vol. 22(3), pages 261-273, November.
- Weil, Philippe, 1987. "Love thy children : Reflections on the Barro debt neutrality theorem," Journal of Monetary Economics, Elsevier, vol. 19(3), pages 377-391, May.
- Jati Sengupta, 1997. "Persistence of dynamic efficiency in Farrell models," Applied Economics, Taylor & Francis Journals, vol. 29(5), pages 665-671.
- Taylor, Timothy G. & Monson, Michael J., 1985. "Dynamic Factor Demands for Aggregate Southeastern United States Agriculture," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 17(02), December.
- Kumbhakar, Subal C., 1990. "Production frontiers, panel data, and time-varying technical inefficiency," Journal of Econometrics, Elsevier, vol. 46(1-2), pages 201-211.
- Ariel Pakes & Paul McGuire, 1992.
"Computing Markov perfect Nash equilibria: numerical implications of a dynamic differentiated product model,"
Discussion Paper / Institute for Empirical Macroeconomics
58, Federal Reserve Bank of Minneapolis.
- Ariel Pakes & Paul McGuire, 1994. "Computing Markov-Perfect Nash Equilibria: Numerical Implications of a Dynamic Differentiated Product Model," RAND Journal of Economics, The RAND Corporation, vol. 25(4), pages 555-589, Winter.
- Ariel Pakes & Paul McGuire, 1992. "Computing Markov Perfect Nash Equilibria: Numerical Implications of a Dynamic Differentiated Product Model," NBER Technical Working Papers 0119, National Bureau of Economic Research, Inc.
- Oivind Anti Nilsen & Fabio Schiantarelli, 1996.
"Zeroes and Lumps in Investment: Empirical Evidence on Irreversibilities and Non-Convexities,"
Boston College Working Papers in Economics
337., Boston College Department of Economics, revised 01 Nov 2000.
- Øivind Anti Nilsen & Fabio Schiantarelli, 2003. "Zeros and Lumps in Investment: Empirical Evidence on Irreversibilities and Nonconvexities," The Review of Economics and Statistics, MIT Press, vol. 85(4), pages 1021-1037, November.
- Seung Ahn & Robin Sickles, 2000. "Estimation of long-run inefficiency levels: a dynamic frontier approach," Econometric Reviews, Taylor & Francis Journals, vol. 19(4), pages 461-492.
- G. Steven Olley & Ariel Pakes, 1992.
"The Dynamics of Productivity in the Telecommunications Equipment Industry,"
NBER Working Papers
3977, National Bureau of Economic Research, Inc.
- Olley, G Steven & Pakes, Ariel, 1996. "The Dynamics of Productivity in the Telecommunications Equipment Industry," Econometrica, Econometric Society, vol. 64(6), pages 1263-97, November.
- George S Olley & Ariel Pakes, 1992. "The Dynamics Of Productivity In The Telecommunications Equipment Industry," Working Papers 92-2, Center for Economic Studies, U.S. Census Bureau.
- Russell Cooper & John Haltiwanger & Laura Power, 1995.
"Machine Replacement and the Business Cycle: Lumps and Bumps,"
0062, Boston University - Industry Studies Programme.
- John Haltiwanger & Russell Cooper & Laura Power, 1999. "Machine Replacement and the Business Cycle: Lumps and Bumps," American Economic Review, American Economic Association, vol. 89(4), pages 921-946, September.
- Russell Cooper & John Haltiwanger & Laura Power, 1995. "Machine Replacement and the Business Cycle: Lumps and Bumps," NBER Working Papers 5260, National Bureau of Economic Research, Inc.
- Genius, Margarita & Pantzios, Christos J. & Tzouvelekas, Vangelis, 2006. "Information Acquisition and Adoption of Organic Farming Practices," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 31(01), April.
- Efthymios G. Tsionas, 2006. "Inference in dynamic stochastic frontier models," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 21(5), pages 669-676.
- Chang, Ching-Cheng & Stefanou, Spiro E., 1988. "Specification and estimation of asymmetric adjustment rates for quasi-fixed factors of production," Journal of Economic Dynamics and Control, Elsevier, vol. 12(1), pages 145-151, March.
- Atkinson, Scott E & Cornwell, Christopher, 1994. "Parametric Estimation of Technical and Allocative Inefficiency with Panel Data," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 35(1), pages 231-43, February.
- Pinar Celikkol & Spiro Stefanou, 2004. "Productivity Growth Patterns in U.S. Food Manufacturing: Case of Meat Products Industry," Working Papers 04-04, Center for Economic Studies, U.S. Census Bureau.
- Jiro Nemoto & Mika Goto, 2003. "Measurement of Dynamic Efficiency in Production: An Application of Data Envelopment Analysis to Japanese Electric Utilities," Journal of Productivity Analysis, Springer, vol. 19(2), pages 191-210, April.
- Saha Atanu & H. Alan Love & Robert Schwart, 1994. "Adoption of Emerging Technologies Under Output Uncertainty," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 76(4), pages 836-846.
- Kumbhakar, Subal C., 1997. "Modeling allocative inefficiency in a translog cost function and cost share equations: An exact relationship," Journal of Econometrics, Elsevier, vol. 76(1-2), pages 351-356.
- Elvira Silva & Spiro Stefanou, 2003. "Nonparametric Dynamic Production Analysis and the Theory of Cost," Journal of Productivity Analysis, Springer, vol. 19(1), pages 5-32, January.
- Phoebus J Dhrymes, 1991. "The Structure Of Production Technology Productivity And Aggregation Effects," Working Papers 91-5, Center for Economic Studies, U.S. Census Bureau.
- Richard Ericson & Ariel Pakes, 1995. "Markov-Perfect Industry Dynamics: A Framework for Empirical Work," Review of Economic Studies, Oxford University Press, vol. 62(1), pages 53-82.
- Elvira Silva & Spiro E. Stefanou, 2007. "Dynamic Efficiency Measurement: Theory and Application," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 89(2), pages 398-419.
- Tirole, Jean, 1985. "Asset Bubbles and Overlapping Generations," Econometrica, Econometric Society, vol. 53(6), pages 1499-1528, November.
- Epstein, Larry G & Denny, Michael G S, 1983. "The Multivariate Flexible Accelerator Model: Its Empirical Restrictions and an Application to U.S. Manufacturing," Econometrica, Econometric Society, vol. 51(3), pages 647-74, May.
When requesting a correction, please mention this item's handle: RePEc:crt:wpaper:0712. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Kostis Pigounakis)
If references are entirely missing, you can add them using this form.