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on Efficiency and Productivity |
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Issue of 2020‒01‒06
eleven papers chosen by |
| By: | Cândida Ferreira |
| Abstract: | This paper seeks to contribute to the analysis of the bank efficiency in the European Union in the aftermath of the recent crisis, using Data Envelopment Analysis (DEA) and considering a sample of 485 banks from all current EU member-states between 2011 and 2017. The results obtained confirm the existence of bank inefficiency,and that this inefficiency is mostly due to inefficient managerial performance and bad combinations of the considered bank inputs and outputs. The results also provide enough evidence of appropriate scale production and dynamic technological changes during the considered interval. Moreover, the results obtained using panel estimates to explain the bank total factor productivity changes allow us to conclude that the choices of the banks in terms of the fixed assets,the profit before tax to the average assets, as well as the ratio of the off-balance sheet items to total assets contribute positively to the productivity changes. On the other side, the ratio of the impaired loans to equity, and the bank interest margins are not in line with the total factor productivity changes of the EU banking sector. |
| Keywords: | EU banking sector; bank efficiency; Data Envelopment Analysis; Malmquist Index |
| JEL: | C33 D24 F36 G21 |
| Date: | 2019–12 |
| URL: | http://d.repec.org/n?u=RePEc:ise:remwps:wp01092019&r=all |
| By: | Vanesa D’Elia; Gustavo Ferro |
| Abstract: | This paper reviews the most recent empirical literature that assesses efficiency in higher education. We analyze 76 studies ranging from 1997 to 2018 and classify them according to the methodologies applied and to the definitions used to describe the outputs, inputs, quality and the context variables. We find that 72 percent of the empirical studies use non-parametric approaches. The most recent studies use panel data. The degrees completed are the most frequently used output variable, and only 9 papers include quality variables. Moreover, while only few parametric papers take observed heterogeneity into account, more than 40 percent include environmental variables to address for observed heterogeneity. This review is useful for researchers interested in measuring efficiency, for policy makers and for other educational stakeholders. |
| Keywords: | Higher Education Efficiency; Efficiency Frontier Methods; Stochastic Frontier Analysis; Data Envelopment Analysis |
| JEL: | I23 C13 C14 |
| Date: | 2019–12 |
| URL: | http://d.repec.org/n?u=RePEc:cem:doctra:708&r=all |
| By: | Gatimbu, Karambu Kiende; Ogada, Maurice Juma |
| Keywords: | Crop Production/Industries, Productivity Analysis |
| Date: | 2019–09 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaae19:295723&r=all |
| By: | Konstantins Benkovskis (Bank of Latvia); Olegs Tkacevs (Bank of Latvia) |
| Abstract: | This study provides new evidence on sector-specific differences in the age-productivity profiles in a country that has witnessed substantial shifts in the economic structure and features flexible labour market and high labour force participation among the elderly. Using a matched employer–employee dataset of Latvian firms, the paper unveils a conventional hump-shaped or downward sloping relationship in manufacturing and trade, but almost no or very small negative effect of ageing workforce in knowledge-intensive service sectors that largely employ high-skilled white-collar employees. The results suggest that investing in human capital, in particular training of elderly employees as well as addressing severe skill shortages in the ICT services sector have to be considered to reduce the downward pressure of ageing on firm performance. It also highlights the importance of efforts made by public institutions in improving health care and promoting healthier lifestyles to increase the number of healthy life years. |
| Keywords: | firm productivity, ageing population, age-productivity profile |
| JEL: | C23 L25 |
| Date: | 2019–11–04 |
| URL: | http://d.repec.org/n?u=RePEc:ltv:dpaper:201903&r=all |
| By: | Teresiński, Jan |
| Abstract: | In this paper we analyse how the terms of trade (TOT) - the ratio of export prices to import prices - affect total factor productivity (TFP). We provide empirical macroeconomic evidence for the European Union countries based on the times series SVAR analysis and microeconomic evidence based on industry level data from the Competitiveness Research Network (CompNet) database which shows that the terms of trade improvements are associated with a slowdown in the total factor productivity growth. Next, we build a theoretical model which combines open economy framework with the endogenous growth theory. In the model the terms of trade improvements increase demand for labour employed in exportable goods production at the expense of technology production (research and development - R&D) which leads to a shift of resources from knowledge development towards physical exportable goods. This reallocation has a negative impact on the TFP growth. Under a plausible calibration the model is able to replicate the observed empirical pattern. |
| Keywords: | total factor productivity,terms of trade,R&D |
| JEL: | F41 O32 O41 O47 |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:iwhcom:62019&r=all |
| By: | Sunge, Regret; Ngepah, Nicholas |
| Keywords: | Productivity Analysis, International Relations/Trade |
| Date: | 2019–09 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaae19:295665&r=all |
| By: | Walden, John B.; Atwood, Joseph |
| Keywords: | Research Methods/ Statistical Methods |
| Date: | 2019–12–24 |
| URL: | http://d.repec.org/n?u=RePEc:ags:msaesp:298454&r=all |
| By: | Hassler, John (IIES, University of Gothenburg and CEPR); Krusell, Per (IIES, CEPR and NBER); Olovsson, Conny (Research Department, Central Bank of Sweden) |
| Abstract: | How do markets economize on scarce natural resources? With an applica-tion to fossil energy, we emphasize technological change aimed at saving on the scarce resource. We develop quantitative macroeconomic theory as a tool for interpreting the past and thinking about the future. We argue, first, that aggre-gate U.S. data calls for a short-run substitution elasticity between energy and the capital/labor inputs that is near Leontief. Given this fact and an aggregate CES function, we note that energy-saving technical change took o right as the oil shocks hit in the 1970s. We rationalize this observation using a theory that views technical change as directed: it can be used to save on different inputs and, hence, the long-run substitutability between inputs becomes higher than Leontief. For our application, we estimate long-run dependence on fossil energy - measured by its factor share - to climb to a little below 10%; absent endogenous technical change directed toward energy-saving, it would go to 100%. |
| Keywords: | Sustainability; Natural resource scarcity; technological change; economic growth; energy |
| JEL: | E13 E20 Q30 Q43 |
| Date: | 2019–07–01 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:rbnkwp:0375&r=all |
| By: | Coffie, Rebecca Owusu |
| Keywords: | Productivity Analysis, Research and Development/Tech Change/Emerging Technologies |
| Date: | 2019–09 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaae19:295877&r=all |
| By: | Mu, Yali; Feng, Shuyi |
| Keywords: | Crop Production/Industries, Agricultural and Food Policy |
| Date: | 2019–09 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaae19:295947&r=all |
| By: | John H. Cochrane |
| Abstract: | Conventional models of production under uncertainty specify that output is produced in fixed proportions across states of nature. I investigate a representation of technology that allows firms to transform output from one state to another. I allow the firm to choose the distribution of its random productivity from a convex set of such distributions, described by a limit on a moment of productivity scaled by a natural productivity shock. The model produces a simple discount factor linked to productivity, which can be used to price any asset, without regard to preferences. |
| JEL: | G12 |
| Date: | 2019–12 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:26535&r=all |