This paper investigates the business cycles in output and real output in nine countries. We detect the long-run and short-run relationships between the cyclical components of output and real output, using Autoregressive Distributed Lag and Error Correlation Models, respectively.

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...