We discuss the nonparametric approach to profit efficiency analysis at the firm and industry levels in the absence of complete price information, and propose two new insights. First, choosing one commodity (whose price is known) as a numeraire good enables us to measure profit inefficiency in...

Nutrients such as nitrogen and phosphorus have a dual role as inputs to crop production and as pollutants to water, air, and soil. The nutrient surplus measures are frequently used as indicators of environmental performance or eco-efficiency at micro level of individual farms and at macro levels...

Structural change is an important driver of productivity growth at the aggregate level. While previous productivity decompositions account for the contributions of market entry and exit, they overlook continuing firms that switch from one industry to another. We develop an improved productivity...