Identification Properties of Recent Production Function Estimators

Econometrica

Volumn 83, Issue 6, 2015, Pages 2411-2451

  Ackerberg, Daniel A ^a   Caves, Kevin ^b   Frazer, Garth ^c,d  

^a UNIVERSITY OF MICHIGAN   (United States)

^b Economists Incorporated   (United States)

^c UNIVERSITY OF TORONTO   (Canada)

^d UNIVERSITY OF TORONTO   (Canada)

Author keywords

productivity; productivity growth; total factor productivity; Production functions

Indexed keywords

EID: 84949985910     PISSN: 00129682     EISSN: 14680262     Source Type: Journal    
DOI: 10.3982/ECTA13408     Document Type: Article

References (62)

1. Ackerberg, D., L. Benkard, S. Berry, and A. Pakes (2007): "Econometric Tools for Analyzing Market Outcomes, " in Handbook of Econometrics. Amsterdam: North-Holland.
2. Ackerberg, D. A., K. Caves, and G. Frazer (2015): "Supplement to 'Identification Properties of Recent Production Function Estimators', " Econometrica Supplemental Material, 83, http://dx.doi.org/10.3982/ECTA13408.
3. Ackerberg, D., X. Chen, J. Hahn, and Z. Liao (2014): "Asymptotic Efficiency of Semiparametric Two-Step GMM, " Review of Economic Studies, 81 (3), 919-943. 10.1093/restud/rdu011
4. Ai, C., and X. Chen (2003): "Efficient Estimation of Models With Conditional Moment Restrictions Containing Unknown Functions, " Econometrica, 71 (6), 1795-1843. 10.1111/1468-0262.00470
5. Ai, C., and X. Chen (2007): "Estimation of Possibly Misspecified Semiparametric Conditional Moment Restriction Models With Different Conditioning Variables, " Journal of Econometrics, 141, 5-43.
6. Alvarez, R., and R. Lopez (2005): "Exporting and Performance: Evidence From Chilean Plants, " Canadian Journal of Economics, 38 (4), 1384-1400.
7. Anderson, T. W., and C. Hsiao (1982): "Formulation and Estimation of Dynamic Models Using Panel Data, " Journal of Econometrics, 18, 47-82. 10.1016/0304-4076(82)90095-1
8. Arellano, M., and S. Bond (1991): "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations, " The Review of Economic Studies, 58, 277-297.
9. Arellano, M., and O. Bover (1995): "Another Look at the Instrumental Variable Estimation of Error Components Models, " Journal of Econometrics, 68, 29-51.
10. Basu, S., and J. Fernald (1997): "Returns to Scale in U.S. Production: Estimates and Implications, " Journal of Political Economy, 105, 249-283.
11. Blalock, G., and P. Gertler (2004): "Learning From Exporting: Revisited in a Less Developed Setting, " Journal of Development Economics, 75 (2), 397-416.
12. Blundell, R., and S. Bond (1998): "Initial Conditions and Moment Restrictions in Dynamic Panel Data Models, " Journal of Econometrics, 87, 115-143.
13. Blundell, R., and S. Bond (2000): "GMM Estimation With Persistent Panel Data: An Application to Production Functions, " Econometric Reviews, 19, 321-340.
14. Bond, S., and M. Söderbom (2005): "Adjustment Costs and the Identification of Cobb-Douglas Production Functions, " Working Paper Series No. 05/04, The Institute for Fiscal Studies.
15. Bruno, M. (1978): "Duality, Intermediate Inputs, and Value-Added, " in Production Economics: A Dual Approach to Theory and Applications, Vol. 2, ed. by M. Fuss and D. McFadden. Amsterdam: North-Holland, Chapter 1.
16. Chamberlain, G. (1982): "Multivariate Regression Models for Panel Data, " Journal of Econometrics, 18, 5-46. 10.1016/0304-4076(82)90094-X
17. Chen, X., J. Hahn, Z. Liao, and G. Ridder, (2013): "Asymptotic Properties of Nonparametric Two-Step Sieve Estimates, " Report, UCLA.
18. Christensen, L. R., and W. H. Greene (1976): "Economies of Scale in U.S. Electric Power Generation, " Journal of Political Economy, 84 (4), 655-676.
19. Christensen, L. R., D. W. Jorgenson, and L. J. Lau (1973): "Transcendental Logarithmic Production Frontiers, " Review of Economics and Statistics, 55 (1), 28-45.
20. Criscuolo, C., and R. Martin (2009): "Multinationals and U.S. Productivity Leadership: Evidence From Great Britain, " Review of Economics and Statistics, 91 (2), 263-281.
21. De Loecker, J. (2011): "Product Differentiation, Multi-Product Firms and Estimating the Impact of Trade Liberalization on Productivity, " Econometrica, 79 (5), 1407-1451. 10.3982/ECTA7617
22. De Loecker, J., and F. Warzynski (2012): "Markups and Firm-Level Export Status, " American Economic Review, 102 (6), 2437-2471.
23. Diewert, W. E. (1978): "Hick's Aggregation Theorem and the Existence of a Real Value Added Function, " in Production Economics: A Dual Approach to Theory and Practice, Vol. 2, ed. by M. Fuss and D. McFadden. Amsterdam: North-Holland, Chapter 1.
24. Dollar, D., M. Hallward-Dreimeier, and T. Mengistae (2005): "Investment Climate and Firm Performance in Developing Countries, " Economic Development and Cultural Change, 54 (1), 1-31.
25. Doraszelski, U., and J. Jaumandreu (2013): "R&D and Productivity: Estimating Endogenous Productivity, " Review of Economic Studies, 80, 1338-1383.
26. Fernandes, A. (2007): "Trade Policy, Trade Volumes and Plant-Level Productivity in Colombian Manufacturing Industries, " Journal of International Economics, 71 (1), 52-71.
27. Gandhi, A., S. Navarro, and D. Rivers (2014): "On the Identification of Production Functions: How Heterogeneous Is Productivity, " Report, U-Wisconsin-Madison.
28. Griliches, Z., and J. Hausman (1986): "Errors in Variables in Panel Data, " Journal of Econometrics, 31, 93-118. 10.1016/0304-4076(86)90058-8
29. Griliches, Z., and J. Mairesse (1998): "Production Functions: The Search for Identification, " in Econometrics and Economic Theory in the Twentieth Century: The Ragnar Frisch Centennial Symposium, ed. by S. Strøm. Cambridge, U.K.: Cambridge University Press.
30. Griliches, Z., and V. Ringstad (1971): Economies of Scale and the Form of the Production Function. Amsterdam: North-Holland.
31. Hall, R. E. (1988): "The Relation Between Price and Marginal Cost in U.S. Industry, " Journal of Political Economy, 96, 921-947.
32. Hoch, I. (1955): "Estimation of Production Function Parameters and Testing for Efficiency, " Econometrica, 23, 325-326.
33. Hoch, I. (1958): "Simultaneous Equation Bias in the Context of the Cobb-Douglas Production Function, " Econometrica, 26, 566-578.
34. Hoch, I. (1962): "Estimation of Production Function Parameters Combining Time-Series and Cross-Section Data, " Econometrica, 30, 34-53.
35. Huang, G., and Y. Hu (2011): "Estimating Production Functions With Robustness Against Errors in the Proxy Variables, " Report, Johns Hopkins University.
36. Kasahara, H., and J. Rodrique (2008): "Does the Use of Imported Intermediates Increase Productivity? Plant Level Evidence, " Journal of Development Economics, 87 (1), 106-118.
37. Kim, K., A. Petrin, and S. Song (2013): "Estimating Production Functions With Control Functions When Capital Is Measured With Error, " Report, University of Chicago.
38. Klein, L. R. (1953): A Textbook of Econometrics. New York: Prentice-Hall.
39. Klette, T. J., and Z. Griliches (1996): "The Inconsistency of Common Scale Estimators When Output Prices Are Unobserved and Endogenous, " Journal of Applied Econometrics, 11 (4), 343-361.
40. Levinsohn, J., and A. Petrin (2003): "Estimating Production Functions Using Inputs to Control for Unobservables, " Review of Economic Studies, 70, 317-342.
41. Marschak, J., and W. H. Andrews Jr. (1944): "Random Simultaneous Equations and the Theory of Production, " Econometrica, 12, 143-205.
42. McElroy, M. B. (1987): "Additive General Error Models for Production, Cost, and Derived Demand or Share Systems, " Journal of Political Economy, 95 (4), 737-757.
43. Mundlak, Y. (1961): "Empirical Production Function Free of Management Bias, " Journal of Farm Economics, 43, 44-56.
44. Mundlak, Y. (1963): "Estimation of Production and Behavioral Functions From a Combination of Cross-Section and Time-Series Data, " in Measurement in Economics, ed. by C. Christ et al. Stanford, CA: Stanford University Press, 138-166.
45. Mundlak, Y. (1996): "Production Function Estimation: Reviving the Primal, " Econometrica, 64 (2), 431-438.
46. Mundlak, Y., and I. Hoch (1965): "Consequences of Alternative Specifications in Estimation of Cobb-Douglas Production Functions, " Econometrica, 33, 814-828.
47. Nerlove, M. (1963): "Returns to Scale in Electricity Supply, " in Measurement in Economics, ed. by C. Christ et al. Stanford: Stanford University Press, 167-200.
48. Olley, S., and A. Pakes (1996): "The Dynamics of Productivity in the Telecommunications Equipment Industry, " Econometrica, 64, 1263-1295.
49. Ozler, S., and K. Yilmaz (2009): "Productivity Response to Reduction in Trade Barriers: Evidence From Turkish Manufacturing Plants, " Review of World Economics, 145 (2), 339-360.
50. Pakes, A., and S. Olley (1995): "A Limit Theorem for a Smooth Class of Semiparametric Estimators, " Journal of Econometrics, 65, 295-332. 10.1016/0304-4076(94)01605-Y
51. Panzar, J. (1989): "Technological Determinants of Firm and Industry Structure, " in Handbook of Industrial Organization, Vol. 1, ed. by R. Schmalensee and R. Willig. Amsterdam: North-Holland, 3-59.
52. Pavcnik, N. (2002): "Trade Liberalization Exit and Productivity Improvements: Evidence From Chilean Plants, " Review of Economic Studies, 69, 245-276.
53. Petrin, A., B. Poi, and J. Levinsohn (2004): "Production Function Estimation in Stata Using Inputs to Control for Unobservables, " The Stata Journal, 4, 113-123.
54. Robinson, P. M. (1988): "Root-N-Consistent Semiparametric Regression, " Econometrica, 56, 931-954. 10.2307/1912705
55. Sivadasan, J. (2009): "Barriers to Competition and Productivity: Evidence From India, " B.E. Journal of Economic Analysis & Policy, 9 (1), Article 42.
56. Slade, M. (1989): "Modeling Stochastic and Cyclical Components of Technical Change: An Application of the Kalman Filter, " Journal of Econometrics, 41, 363-383.
57. Solow, R. M. (1957): "Technical Change and the Aggregate Production Function, " Review of Economics and Statistics, 39, 312-320.
58. Syverson, C. (2001): "Market Structuure and Productivity, " Ph.D. Dissertation, University of Maryland.
59. Topalova, P., and A. Khadewal (2011): "Trade Liberalization and Firm Productivity: The Case of India, " Review of Economics and Statistics, 93 (3), 995-1009.
60. Van Biesebroeck, J. (2003): "Productivity Dynamics With Technology Choice: An Application to Automobile Assembly, " Review of Economic Studies, 70 (1), 167-198.
61. Van Biesebroeck, J. (2007): "Robustness of Productivity Estimates, " The Journal of Industrial Economics, 55, 529-569.
62. Wooldridge, J. (2009): "On Estimating Firm-Level Production Functions Using Proxy Variables to Control for Unobservables, " Economics Letters, 104 (3), 112-114.