On Measuring Economic Efficiency

Kaliappa Kalirajan ()

Journal of Applied Econometrics, 1990, vol. 5, issue 1, 75-85

Abstract: This paper considers a system consisting of a production frontier and factor share equations to measure firm-specific technical efficiency and input-specific allocative efficiency simultaneously. In estimating the system as a whole, the joint distribution of all errors in the equations is used. This is more efficient than using the marginal distribution of a function of the errors as one does by estimating either the profit function of the production function alone. The workability of the method is illustrated by applying it to farm-level data from Philippines agriculture. Copyright 1990 by John Wiley & Sons, Ltd.

Date: 1990
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