This paper investigates the sources of total factor productivity growth in the German manufacturing sector during 1981–1998. Decompositions of aggregate productivity growth are used to identify the effects of structural change and entry–exit on aggregate productivity growth. We find a...

The paper considers a nonparametric approach to determine portfolio efficiency using specific directions toward the portfolio frontier function. This approach allows for a straightforward incorporation of higher moments of the returns distribution beyond mean and variance. The nonparametric...