The productivity e¤ect of public infrastructure investment is controversial in the traditional literature using aggregate production function estimation, mainly due to reverse causality. This paper develops a new approach, using a model of endogenous productivity in a …rm-level production function, and matching Chinese …rm-level production data with province-level infrastructure data. The estim...

This paper analyzes the productivity performance of Chinese manufacturing firms from 1995 to 2003 by using a large-scale firm-level dataset from the National Bureau of Statistics, Peoples Republic of China. Over this period, a large number of firms were converted to stock holding companies, and an increasing presence of foreign-owned companies further accelerated structural changes in Chinese i...

The present paper thoroughly explores second-best efficient allocations in an adverse selection insurance economy. We start from a natural extension of the classical model, assuming less than perfect risk perceptions. We propose first and second welfare theorems, by means of which we describe efficiencyenhancing policies. Notions of weak and strong adverse selection are promising for interpreti...

The purpose of this study is to identify areas energy-efficient development in petrochemical supply chains through the use computer analysis tools. uses system approach methods, comparisons, vertical dynamic analysis, economic and mathematical modeling, forecasting, factor analysis. Listed implementation methods helps meet number scientific results: systematized programs are applicable for prod...

This paper presents a new approach for quantifying bank’s management quality, using a data envelopment analysis (DEA) model that combines multiple inputs and outputs to compute a scalar measure of efficiency. This measure will seek to capture a fundamental and crucial element of a bank’s success, which is its management efficiency. The results show that, on average, differences in management qu...

Taking into account that within the government sector all tax payments cancel out, a public enterprise in an economy with distortionary wage taxation will be more labor intensive than a private firm. However, an unequal tax treatment of public and private sectors distorts away the economy from production efficiency. In a general equilibrium model, incurring this inefficiency is worthwhile from ...

In this paper we analyze the economic effects of implementing EPA’s newly proposed regulations for carbon dioxide (CO2) on existing U.S. coal-fired power plants using nonparametric methods on a sample of 144 electricity generating units. Moreover, we develop an approach for evaluating the economic gains from averaging emission intensities among the utilities’ generating units, compared to imple...

This paper provides parametric estimates of technical change, e¢ ciency change, economies of scale, and total factor productivity growth for large banks (those with assets in excess of $1 billion) in the United States, over the period from 2000 to 2005. In doing so, we propose a distance function based primal total factor productivity growth index, which is valid under both perfect and imperfec...

Article history: Received 18 September 2014 Received in revised form 24 September 2014 Accepted 15 October 2014 Available online 20 October 2014 This paper investigates product-specific scale economies of banks with respect to off-balance sheet operations. The cost benefits from the non-separability of outputs available to banks that imply the role of OBS activities on bank scale economies are ...

The Return to the Firm Investment in Human Capital In this paper we estimate the rate of return to firm investments in human capital in the form of formal job training. We use a panel of large firms with unusually detailed information on the duration of training, the direct costs of training, and several firm characteristics such as their output, workforce characteristics and capital stock. Our...