Explaining changes in productivity involves explaining changes in output and input quantities. Several economic models can be used for this purpose. This paper considers a model that accounts for weather and output price uncertainty. Changes in productivity are then explained in two steps....

Purpose: The consolidation of the banking market in Croatia is characterized by a decreasing number of banks, especially small banks. The inability to remain in the market is often the result of the inability to maintain sustainable efficiency over time. Therefore, the main aim of the study was...

Productivity is influenced by several firm-level factors, often latent. When unexplained, this latent heterogeneity can lead to the mismeasurement of productivity differences between groups of firms. We propose a flexible, semi-parametric extension of current production function estimation...

This paper propose to employ the SPF approach (stochastic production frontier) to measure the technical efficiency of the country level for best economic performance, as the measure of growth is the essential practice to comprehend the roots of economic growth. It is evident from the results,...