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Estimation of Productivity in Korean Electric Power Plants: A Semiparametric Smooth Coefficient Model

  • Heshmati, Almas

    ()

    (Jönköping University, Sogang University)

  • Kumbhakar, Subal C.

    ()

    (Binghamton University, New York)

  • Sun, Kai

    ()

    (Aston University)

This paper analyzes the impact of load factor, facility and generator types on the productivity of Korean electric power plants. In order to capture important differences in the effect of load policy on power output, we use a semiparametric smooth coefficient (SPSC) model that allows us to model heterogeneous performances across power plants and over time by allowing underlying technologies to be heterogeneous. The SPSC model accommodates both continuous and discrete covariates. Various specification tests are conducted to compare performance of the SPSC model. Using a unique generator level panel dataset spanning the period 1995-2006, we find that the impact of load factor, generator and facility types on power generation varies substantially in terms of magnitude and significance across different plant characteristics. The results have strong implication for generation policy in Korea as outlined in this study.

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Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 7277.

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Length: 24 pages
Date of creation: Mar 2013
Date of revision:
Handle: RePEc:iza:izadps:dp7277
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