This paper develops a consistent bootstrap estimation procedure to obtain confidence intervals for nonparametric measures of productive efficiency. Although the methodology is illustrated in terms of technical efficiency measured by output distance functions, the technique can be easily extented...

This paper rehabilitates effective protection. In general equilibrium, the usual definition (the percentage change in value added per unit induced by the tariff structure) corresponds to no economically interesting magnitude. The effective rate of protection for sector j is defined here as the...

Chile’s hydroelectric industry was privatized in 1985, but required to operate within a regulatory framework designed to achieve a competitive outcome. A centralized dispatch center was established to ensure production at minimum cost, subject to constraints on minimum release and minimum...