A1237
Title: Dependence in models of production: New estimators and techniques
Authors: Artem Prokhorov - University of Sydney (Australia) [presenting]
Abstract: The core methodological and empirical developments surrounding stochastic frontier models are covered that incorporate various new forms of dependence. Such models apply naturally to panels where cross-sectional observations on firm productivity correlate over time, but also in situations where various components of the error structure correlate with each other and with input variables. Ignoring such dependence patterns is known to lead to severe biases in the estimates of production functions and to incorrect inference. Some of the new approaches are based on techniques from statistical machine learning.
