Estimation of technical change: Direct semi/nonparametric approaches

Subal Kumbhakar, Mingyang Li and Shunan Zhao

Economics Letters, 2021, vol. 199, issue C

Abstract: This paper introduces some novel approaches to formulate and estimate technical change (TC) nonparametrically in a variety of cases without estimating the underlying production technology that is usually specified by a production, cost or transformation function. The binding theme in all our formulations of TC is the use of the first-order conditions of profit maximization or cost minimization. The new TC measures are observation-specific due to their nonparametric nature.

Keywords: Nonparametric; Semiparametric smooth coefficient; Technical change; Profit maximization; Cost minimization (search for similar items in EconPapers)
JEL-codes: C14 D24 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:199:y:2021:i:c:s0165176521000112

DOI: 10.1016/j.econlet.2021.109734

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