Any non-stationary series can be decomposed into permanent (or 'trend') and transitory (or 'cycle') components. Typically some atheoretic pre-filtering procedure is applied to extract the permanent component. This paper argues that analysis of the fundamental underlying stationary economic...

An econometric methodology is developed for nonparametric estimation of concave production technologies. The methodology, based on the principle of maximum likelihood, uses entropic distance and convex programming techniques to estimate production functions. Empirical applications are presented...