Search results for "Allocative efficiency"
showing 10 items of 10 documents
The Media as a Policy Instrument in Influencing the Business Model of Professional Soccer. Evidence from Italy
2012
Italian soccer clubs in the first division have individually sold broadcasting rights for their home matches, until new laws imposed pooling and joint-selling those rights through the league and established a mandatory sharing rule to redistribute revenues in order to improve on-the-pitch competitive balance (CB). This article compares the two institutional designs. While reducing revenue inequality, the new regime distorts allocative efficiency and informational rent appropriation, opens up costly ex post renegotiations and antitrust litigations, and does not improve CB.
Revisiting the quiet life hypothesis in banking using nonparametric techniques
2014
Early studies testing the quiet life hypothesis in banking found strong evidence that banks in more concentrated markets exhibit lower cost efficiency levels. More recent studies have reexamined the issue in different contexts, with mixed results. These approaches are based on stipulating a linear re- lationship between market power and efficiency in banking, which might be problematic, as suggested by the literature on efficiency analysis. We explore how bank cost efficiency measures are related to market power using flexible techniques, which are more consistent with those employed to measure efficiency in the first stage of the analysis. Our study focuses on the Spanish banking industry,…
An Augmented Static Olley-Pakes Productivity Decomposition with Entry and Exit Measurement and Interpretation
2015
We develop an augmented Olley–Pakes (OP) decomposition that allows us to examine how entering and exiting firms contribute to the popular OP covariance measure of allocative efficiency. Applying the decomposition to a comprehensive micro-level data, we find that a large part of the OP covariance component can be attributed to entrants and exiting firms. We also build a model of firm dynamics that is consistent with our main empirical results. In the model economy, the standard OP covariance component tends to increase with certain type of distortions because of endogenous changes in firm entry and exit.
Differenziali Territoriali di Produttivita' ed Efficienza negli Anni '90: i Livelli e l'Andamento
2001
Nel presente lavoro, dopo avere effettuato una rassegna degli approcci esistenti in letteratura sulle ragioni dello sviluppo dualistico dell'economia italiana, si argomenta che per valutare il potere esplicativo di questi approcci e' importante esaminare alcune loro predizioni empiriche relativamente a livello e andamento della produttivita' totale dei fattori, nonche' degli elementi in cui queste variabili possono essere scomposte. Basandosi sui dati dell'Indagine del Mediocredito Centrale, vengono quindi calcolati per gli anni '90 misure di efficienza tecnica, di scala e allocativa, nonche' degli indici di Malmquist, per un campione piuttosto ampio (e territorialmente diversificato) di im…
The Education Production Function reviewed in the framework of Education For All in Sub-Saharan Africa: from theoretical and methodological bounds to…
2007
The Coleman report (1966) was the first of numerous researches exploring quality of learning determinants analysis. With the Education Production Function (EPF), economists have greatly contributed to the extension of this research domain. Actually, empirical works are leading the field with important methodological debates which have fuelled controversies (Hanushek, 2003; Krueger, 2003). Thus, methodological issues have particularly rallied researchers' interests on empirical estimations, while academic researches on the renewal of the theoretical framework have remained scarce despite obvious bounds. Without contesting the validity of miscellaneous estimation problems and the necessity of…
The Economic Impact of Restricted Water Supply: a Computable General Equilibrium Analysis
2007
Water problems are typically studied at the level of the river catchment. About 70% of all water is used for agriculture, and agricultural products are traded internationally. A full understanding of water use is impossible without understanding the international market for food and related products, such as textiles. The water embedded in commodities is called virtual water. Based on a general equilibrium model, we offer a method for investigating the role of water resources and water scarcity in the context of international trade. We run five alternative scenarios, analyzing the effects of water scarcity due to reduced availability of groundwater. This can be a consequence of physical con…
Essentials of Common Industrial Policy
2021
A set of sixteen principles of modern industrial policy is derived from the literature for application to entire regions. Such policy strives to create industrial commons and to rectify market failures which cannot reasonably be expected to self-correct over time. This chapter creates a workable typology of genuine regional industries, distinguishing two main types: Type I is the outcome of targeted selection and Type II of broad investment promotion. A ‘dual core’ of both types is appropriate to most African industrial ecosystems. The chapter goes on to clarify the distinction between regional production networks and stand-alone ‘lighthouses’. The incentive system for regional industries i…
A bargaining model of Farrell inefficiency
1998
Abstract An enormous number of empirical papers have estimated technical efficiency, the distance of firms inside a frontier, following the model of Farrell (Farrell, 1957. The measurement of productive efficiency. Journal of the Royal Statistical Society Series A 120 (3), 253–290). We propose a theory that explains the distance these empirical papers seek to measure. The theory is based on the idea that workers can bargain low `effort' (high crew sizes etc.) if they and the firm have some monopoly power. We provide simple theoretical expressions for the empirical measures of technical and allocative efficiency and compare them to those in the statistical literature. We also consider the re…
A macroeconomic analysis of the public investments in European combined transport
2009
Intermodal transport has been recognized as a priority by the European Union, that has defined different budget allocations of investments to improve the shifting from road to intermodal transport, which is more sustainable. In this context, the main aim of the paper is to discuss the macroeconomic effects, in terms of economic growth, welfare and trade, of these public investments for combined transport, which aspects have been neglected in literature. A multi-country computable general equilibrium model has been used. The main results have been that the European Union benefits from these investments, but at international level, USA and Japan would lose in terms of welfare. Furthermore, th…
Implementation of the eHealth Project in Latvia: Project audit perspective
2016
In order to improve effectiveness of provision of healthcare service, the project implemented by the Ministry of Health- ”E-health in Latvia” is a step towards the right direction. It will provide the possibility for patients to ensure a greater control over their health issues, by maintaining healthy habits, lifestyle, increase substantiation of adoption of decisions and speed of service in the healthcare industry, ensuring quality and accessible information; patients will receive more quality services and in a shorter period of time for issuance of prescription drugs. Nevertheless, the policy prepared by the Ministry of Health in the area of e-Health will not be implemented in the planned…