Cost Minimizing Behavior in U.S. Manufacturing

James Swanson and Kim Andrews
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James Swanson: Central Missouri State University
Kim Andrews: Central Missouri State University

Journal of Economic Insight, 2003, vol. 29, issue 1, 93-108

Abstract: A stochastic frontier approach is used to examine efficiency of the U.S. manufacturing sector over the 1958 – 1996 time period. A National Bureau of Economic Research (NBER) panel data set was used to estimate a translog cost frontier. Both fixed effects and random effects models were estimated. The estimation results were surprisingly robust and show not only a great deal of inefficiency within the manufacturing sector but also a great deal of variation in efficiency within this sector.

JEL-codes: L6 (search for similar items in EconPapers)
Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:mve:journl:v:29:y:2003:i:1:p:93-108

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