Using data envelopment analysis and stochastic frontier models, we introduce a new country-month index of efficiency of government policy in dealing with the COVID-19 pandemic. Our indices cover the period May 2020 to March 2021 for 81 countries. Our framework assumes that governments impose...

Using data envelopment analysis and stochastic frontier models, we introduce a new country-month index of efficiency of government policy in dealing with the COVID-19 pandemic. Our indices are in respect of 81 countries and cover the period from May 2020 to March 2021. Our framework assumes that...

In this work, we investigate the dynamic interdependencies among the EU12 economies using a competitive general equilibrium network system representation. Additionally, using Bayesian techniques, we estimate the autoregressive scheme that characterizes the equilibrium price system of the...

This paper studies the diffusion of knowledge and its consequences for local innovation production. In a common framework, we analyze the geographic reach of different channels of knowledge flows that thus far have been studied separately in the literature. To jointly estimate these flows, we...

Standard stochastic frontier models estimate log-linear specifications of production technology, represented mostly by production, cost, profit, revenue, and distance frontiers. We develop a methodology for stochastic frontier models of count data allowing for technological and inefficiency...

This paper models the firm's production process as a system of simultaneous technologies for desirable and undesirable outputs. Desirable outputs are produced by transforming inputs via the conventional transformation function, whereas (consistent with the material balance condition) undesirable...

Most business decisions depend on accurate approximations to the cost and production functions. Traditionally, the estimation of cost and production functions in economics relies on standard specifications which are less than satisfactory in numerous situations. However, instead of fitting the...

This research is motivated by the fact that there is a paucity of research on the earnings management practices of banks in Australia. Research on the practices of North American, European and Asian banks provided conflicting evidence. In this study, we examine whether Australian banks engage in...

In this study, we examine factors associated with equity valuation in a newly emerging market, Turkey. In the United States and other developed countries, research indicates that both earnings and book value are important predictors of equity valuation. In Turkey, earnings appears to have...

This paper investigates how lenders react to borrowers’ rating changes under heterogeneous conditions and different regulatory regimes. Our findings suggest that corporate downgrades that increase capital requirements for lending banks under the Basel II framework are associated with increased...