A non-homothetic globally concave flexible cost function and its application to panel data

    Research output: Contribution to journalArticle

    1 Citation (Scopus)

    Abstract

    A new non-homothetic globally concave flexible cost function is introduced and applied to a panel of firms in the Japanese paper and pulp industry. This cost function is a mixture of the generalized McFadden form and the generalized Ozaki form due to Nakamura (1990). A generalized index of technical change is used in place of the standard quadratic form of time-trend. The estimated cost function satisfied global concavity, and the symmetry condition of the Slutsky matrix was not rejected. Homotheticity was strongly rejected.

    Original languageEnglish
    Pages (from-to)208-223
    Number of pages16
    JournalJapanese Economic Review
    Volume52
    Issue number2
    Publication statusPublished - 2001 Jun

    Fingerprint

    Cost function
    Panel data
    Time trends
    Pulp and paper industry
    Technical change
    Concavity
    Homotheticity
    Symmetry
    Slutsky matrix

    ASJC Scopus subject areas

    • Economics and Econometrics

    Cite this

    A non-homothetic globally concave flexible cost function and its application to panel data. / Nakamura, Shinichiro.

    In: Japanese Economic Review, Vol. 52, No. 2, 06.2001, p. 208-223.

    Research output: Contribution to journalArticle

    @article{ddd2f6d290cb4066994615ca31d1fbef,
    title = "A non-homothetic globally concave flexible cost function and its application to panel data",
    abstract = "A new non-homothetic globally concave flexible cost function is introduced and applied to a panel of firms in the Japanese paper and pulp industry. This cost function is a mixture of the generalized McFadden form and the generalized Ozaki form due to Nakamura (1990). A generalized index of technical change is used in place of the standard quadratic form of time-trend. The estimated cost function satisfied global concavity, and the symmetry condition of the Slutsky matrix was not rejected. Homotheticity was strongly rejected.",
    author = "Shinichiro Nakamura",
    year = "2001",
    month = "6",
    language = "English",
    volume = "52",
    pages = "208--223",
    journal = "Japanese Economic Review",
    issn = "1352-4739",
    publisher = "Wiley-Blackwell",
    number = "2",

    }

    TY - JOUR

    T1 - A non-homothetic globally concave flexible cost function and its application to panel data

    AU - Nakamura, Shinichiro

    PY - 2001/6

    Y1 - 2001/6

    N2 - A new non-homothetic globally concave flexible cost function is introduced and applied to a panel of firms in the Japanese paper and pulp industry. This cost function is a mixture of the generalized McFadden form and the generalized Ozaki form due to Nakamura (1990). A generalized index of technical change is used in place of the standard quadratic form of time-trend. The estimated cost function satisfied global concavity, and the symmetry condition of the Slutsky matrix was not rejected. Homotheticity was strongly rejected.

    AB - A new non-homothetic globally concave flexible cost function is introduced and applied to a panel of firms in the Japanese paper and pulp industry. This cost function is a mixture of the generalized McFadden form and the generalized Ozaki form due to Nakamura (1990). A generalized index of technical change is used in place of the standard quadratic form of time-trend. The estimated cost function satisfied global concavity, and the symmetry condition of the Slutsky matrix was not rejected. Homotheticity was strongly rejected.

    UR - http://www.scopus.com/inward/record.url?scp=0035020312&partnerID=8YFLogxK

    UR - http://www.scopus.com/inward/citedby.url?scp=0035020312&partnerID=8YFLogxK

    M3 - Article

    AN - SCOPUS:0035020312

    VL - 52

    SP - 208

    EP - 223

    JO - Japanese Economic Review

    JF - Japanese Economic Review

    SN - 1352-4739

    IS - 2

    ER -