IDENTIFICATION PROPERTIES OF RECENT PRODUCTION FUNCTION ESTIMATORS

• 成果类型: Article
• 署名作者: Ackerberg, Daniel A.; Caves, Kevin; Frazer, Garth
• 署名单位: University of Michigan System; University of Michigan; University of Toronto; University Toronto Scarborough; University of Toronto; University of Toronto
• 刊物名称: ECONOMETRICA
• ISSN/ISSBN: 0012-9682
• DOI: 10.3982/ECTA13408
• 发表日期: 2015
• 页码: 2411-2451
• 关键词: trade liberalization; Moment restrictions; technical change; panel-data; models; scale; performance; components; variables; cost

摘要

This paper examines some of the recent literature on the estimation of production functions. We focus on techniques suggested in two recent papers, Olley and Pakes (1996) and Levinsohn and Petrin (2003). While there are some solid and intuitive identification ideas in these papers, we argue that the techniques can suffer from functional dependence problems. We suggest an alternative approach that is based on the ideas in these papers, but does not suffer from the functional dependence problems and produces consistent estimates under alternative data generating processes for which the original procedures do not.