Transcendental Logarithmic Production Frontiers

Christensen, Laurits R.; Jorgenson, Dale W.; Laü, Lawrence J.

doi:10.2307/1927992

“…The function was first proposed by Christensen et al (1971) and later extended to a multiproduct framework by Brown et al (1979). It has been widely applied in contemporary empirical literature (see Koetter & Vins, 2008;Coccorese & Pellecchia, 2010;Ariss, 2010).…”

Section: Estimation Of Market Power (Lerner Index)mentioning

confidence: 99%

Information asymmetry and market power in the African banking industry

Boateng

¹

,

Asongu

²

,

Akamavi

³

et al. 2018

Journal of Multinational Financial Management

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“…We applied the criteria and decided to specify the cost function as a translog functional form, which was introduced by Christensen et al (1973). A disadvantage of this functional form is its inability to deal with observations that contain zero levels for any output included in the cost function (Vita, 1990).…”

Section: Functional Form and Estimation Strategymentioning

confidence: 99%

Estimation of a physician practice cost function

Kwietniewski¹,

Heimeshoff²,

Schreyögg³

2016

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. This is the first study to specify a physician practice cost function with practice costs as the unit of analysis. Our study is based on the data of 3,706 physician practices for the years 2006 to 2008. We propose a model using physician practices as the unit of observation and considering the endogenous character of physician input. In doing so, we apply a translog functional form and include a comprehensive set of variables (e.g., degree of specialisation and case-mix) that have not been previously used in this context. A system of four equations using three-stage least squares is estimated. Terms of use: Documents inWe find that a higher degree of specialisation and participation in disease management programs and gatekeeper models leads to a decrease in costs, whereas quality certification increases costs. Costs increase with the number of physicians, most likely because of the existence of indivisibilities of expensive technical equipment. Smaller practices might not reach the critical mass to invest in certain technologies, which leads to differences in the type of health care services provided by different practice types.

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“…We select a translog cost function, as proposed by Christensen et al (1973), which is a linear, second-order approximation to an arbitrary cost function. The translog cost function belongs to the class of ‡exible cost functions, which do not restrict the substitution elasticities of input factors, and is therefore preferable to Cobb-Douglas or Constant Elasticity of Substitution functions.…”

Section: Labor Demand Model 41 Empirical Model and Estimationmentioning

confidence: 99%

Accounting for labor demand effects in structural labor supply models

Peichl

¹

,

Siegloch

²

2012

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. www.econstor.eu The Institute for the Study of Labor (IZA) in Bonn is a local and virtual international research center and a place of communication between science, politics and business. IZA is an independent nonprofit organization supported by Deutsche Post Foundation. The center is associated with the University of Bonn and offers a stimulating research environment through its international network, workshops and conferences, data service, project support, research visits and doctoral program. IZA engages in (i) original and internationally competitive research in all fields of labor economics, (ii) development of policy concepts, and (iii) dissemination of research results and concepts to the interested public. Terms of use: Documents in D I S C U S S I O N P A P E R S E R I E SIZA Discussion Papers often represent preliminary work and are circulated to encourage discussion. Citation of such a paper should account for its provisional character. A revised version may be available directly from the author.IZA Discussion Paper No. 5350 November 2010 ABSTRACT Accounting for Labor Demand Effects in Structural Labor Supply Models *When assessing the effects of policy reforms on the labor market, most studies only focus on labor supply. The interaction of supply and demand side is not explicitly modeled, which might lead to biased estimates of potential labor market outcomes. This paper proposes a straightforward method to remedy this shortcoming. We use information on firms' labor demand behavior and feed them into a structural labor supply model, completing the partial analysis of the labor market on the microdata level. We show the performance and relevance of our extension by introducing a pure labor supply side reform, the workfare concept, in Germany and simulating the labor market outcome of the reform. We find that demand effects offset about 25 percent of the positive labor supply effect of the policy reform.JEL Classification: J22, J23, J68

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Transcendental Logarithmic Production Frontiers

Cited by 2,326 publications

References 12 publications

Information asymmetry and market power in the African banking industry

Information asymmetry and market power in the African banking industry

Estimation of a physician practice cost function

Accounting for labor demand effects in structural labor supply models

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