Search Results - subject:"Covariance structures"

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Using firm optimization to evaluate and estimate returns to scale

Gorodnichenko, Yuriy - 2008

At the firm level, revenue and costs are well measured but prices and quantities are not. This paper shows that because of these data limitations estimates of returns to scale at the firm level are for the revenue function, not production function. Given this observation, the paper argues that,...

Persistent link: https://www.econbiz.de/10010268849

Using Firm Optimization to Evaluate and Estimate Returns to Scale

Gorodnichenko, Yuriy - Institute for the Study of Labor (IZA) - 2008

, identification, returns to scale, covariance structures Corresponding author: Yuriy Gorodnichenko Department of Economics …. The key idea of the estimator is to use the covariance structures for the firms’ observed optimizing choices (inputs … have somewhat better performance in estimating covariance structures in finite samples (see e.g. Clark 1996). It is …

Persistent link: https://www.econbiz.de/10005822822