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On the Choice of Functional Forms: Summary of a Monte Carlo Experiment

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  • Gagne, Robert
  • Ouellette, Pierre

Abstract

The use of flexible functional forms is a standard practice in applied econometrics. Many flexible forms have been proposed. In this study, the authors investigate the behavior of three of them--the translog, the symmetric McFadden, and the symmetric generalized Barnett. Based on Monte Carlo experiments, they assess the ability of these forms to test theoretical properties and to measure technological characteristics.

Suggested Citation

  • Gagne, Robert & Ouellette, Pierre, 1998. "On the Choice of Functional Forms: Summary of a Monte Carlo Experiment," Journal of Business & Economic Statistics, American Statistical Association, vol. 16(1), pages 118-124, January.
    • Handle: RePEc:bes:jnlbes:v:16:y:1998:i:1:p:118-24
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    Citations

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    Cited by:

    1. Urga, Giovanni & Walters, Chris, 2003. "Dynamic translog and linear logit models: a factor demand analysis of interfuel substitution in US industrial energy demand," Energy Economics, Elsevier, vol. 25(1), pages 1-21, January.
    2. Brei, Michael & Jacolin, Luc & Noah, Alphonse, 2020. "Credit risk and bank competition in Sub-Saharan Africa," Emerging Markets Review, Elsevier, vol. 44(C).
    3. Cremieux, Pierre-Yves & Ouellette, Pierre, 2001. "Omitted variable bias and hospital costs," Journal of Health Economics, Elsevier, vol. 20(2), pages 271-282, March.
    4. Pierre Ouellette & Stéphane Vigeant, 2003. "Technological choices and regulation: the case of the Canadian manufacturing sectors," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 36(1), pages 88-125, March.
    5. Koebel, Bertrand M. & Falk, Martin, 1999. "Curvature conditions and substitution pattern among capital, energy, materials and heterogeneous labour," ZEW Discussion Papers 99-06, ZEW - Leibniz Centre for European Economic Research.
    6. Daniel Bilodeau & Pierre‐Yves Crémieux & Pierre Ouellette, 2002. "Hospital Technology in a Nonmarket Health Care System," Southern Economic Journal, John Wiley & Sons, vol. 68(3), pages 511-529, January.
    7. Chambers, Robert & Färe, Rolf & Grosskopf, Shawna & Vardanyan, Michael, 2013. "Generalized quadratic revenue functions," Journal of Econometrics, Elsevier, vol. 173(1), pages 11-21.
    8. Robert Gagné & Pierre Ouellette, 2002. "The Effect of Technological Change and Technical Inefficiencies on the Performance of Functional Forms," Journal of Productivity Analysis, Springer, vol. 17(3), pages 233-247, May.
    9. Dionne, Georges & Gagne, Robert & Vanasse, Charles, 1998. "Inferring technological parameters from incomplete panel data," Journal of Econometrics, Elsevier, vol. 87(2), pages 303-327, September.
    10. Mark Newton Lowry & Lullit Getachew & David Hovde, 2005. "Econometric Benchmarking of Cost Performance: The Case of U.S. Power Distributors," The Energy Journal, , vol. 26(3), pages 75-92, July.
    11. Robert Gagne & Carmine Nappi, 2000. "The cost and technological structure of aluminium smelters worldwide," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 15(4), pages 417-432.
    12. Nguyen, Duong T.M. & McLaren, Keith Robert & Zhao, Xueyan, 2008. "Multi-Output Broadacre Agricultural Production: Estimating A Cost Function Using Quasi-Micro Farm Level Data From Australia," 2008 Conference (52nd), February 5-8, 2008, Canberra, Australia 6009, Australian Agricultural and Resource Economics Society.
    13. Albert Okunade, 2001. "Cost-Output Relation, Technological Progress, and Clinical Activity Mix of US Hospital Pharmacies," Journal of Productivity Analysis, Springer, vol. 16(2), pages 167-193, September.
    14. Koebel, Bertrand M. & Falk, Martin & Laisney, François, 2000. "Imposing and testing curvature conditions on a Box-Cox function," ZEW Discussion Papers 00-70, ZEW - Leibniz Centre for European Economic Research.

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