This paper considers an econometric approach to measuring substitutability of three types of energy, i.e. crude oil, electricity and diesel with capital and labour in the manufacturing sector of Greek industry during the period 1970]1990. A general dynamic framework is developed under the assumption that the structure of the production process is weakly separable in capital, labour and energy a...

In the standard framework of data envelopment analysis (DEA) models, the returns to scale are fully characterized using the multiplier on the convexity constraint of inefficient decision making units (DMU) using the projection of the input-output vector on the frontier. In this note, we investigate how the returns to scale measurements in DEA models are affected by the presence of regulatory co...

We analyse the impact of ICT spillovers on productivity using company data for the U.S. We account for interand intra-industry spillovers and assess the role played by firm’s absorptive capacity. Our results show that intra-industry ICT spillovers have a contemporaneous negative effect that turns positive 5 years after the initial investment. For inter-industry spillovers both contemporaneous a...

We document the evolution of productivity in a steel mini mill with fixed capital, producing an unchanged product with Leontief technology working 24/7. Despite—almost—unchanged production conditions, output doubled within the sample period (12 years). We decompose the gains into downtime reductions, more rounds of production per time, and more output per run. After attributing productivity gai...

For a stable supply of electricity power plants are required to provide ancillary services in addition to energy production. This paper suggests a solution for optimal bidding strategy for hydroelectric units operating in markets where both energy and ancillary services are priced simultaneously. The model is illustrated on a numerical example of a hydro unit operating in such markets of New Yo...

In this paper we characterize the extent of economic integration between Guangdong, Hong Kong, Macau, and Taiwan (HKMT). We do not find, for the period of 1999 – 2003, consistent evidence that economic activity on the part of HKMT-funded companies contributed to productivity growth in Guangdong domestic manufacturing firms. Furthermore, HKMT-funded companies were less active than Guangdong dome...

In this paper we present new measures for the bias in an import price index due to outsourcing. The m easure is developed fi rst for a high ly simplif ied case for the purpose of conveying the rationale for the measure. It is then generalized, yielding a m eaasure that could b e used in empirical stu dies. Before taking up this bias measurement problem , however, we expl ain the m easurement co...

We study the ordinal content of assuming supermodularity, including conditions under which a binary relation can be represented by a supermodular function. When applied to revealed-preference relations, our results imply that supermodularity is some times not refutable: A consumer’s choices can be rationalized with a supermodular utility function if they can be rationalized with a monotonic uti...

We describe the evolution of productivity growth in a competitive industry with free entry and exit. The exogenous wage rate determines the firms’ engagement in labor productivity enhancing process innovation. There is a unique steady state of the industry dynamics, which is globally asymptotically stable. In the steady state, the number of active firms, their unit labor cost and supply depend ...

Three dimensions of the performance of firms in Ghana’s manufacturing sector are investigated in this paper: their technology and the importance of technical and allocative efficiency. We show that the diversity of factor choices is not due to a non-homothetic technology. Observable skills are not quantitatively important as determinants of productivity. Technical inefficiency is not lower in f...