The Components of Output Growth: A Stochastic Frontier Analysis

B-Tier
Journal: Oxford Bulletin of Economics and Statistics
Year: 1999
Volume: 61
Issue: 4
Pages: 455-487

Score contribution per author:

0.670 = (α=2.01 / 3 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

This paper uses Bayesian stochastic frontier methods to decompose output change into technical, efficiency and input changes. In the context of macroeconomic growth exercises, which typically involve small and noisy data sets, we argue that stochastic frontier methods are useful since they incorporate measurement error and assume a (flexible) parametric form for the production relationship. These properties enable us to calculate measures of uncertainty associated with the decomposition and minimize the risk of overfitting the noise in the data. Tools for Bayesian inference in such models are developed. An empirical investigation using data from 17 OECD countries for 10 years illustrates the practicality and usefulness of our approach.

Technical Details

RePEc Handle
repec:bla:obuest:v:61:y:1999:i:4:p:455-487
Journal Field
General
Author Count
3
Added to Database
2026-01-25