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Journal articles on the topic 'Translog Cost Function'

Author: Grafiati

Published: 4 June 2021

Last updated: 23 February 2023

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1

Raihana, Bilkis. "Translog Cost Function: An application for Bangladesh Agriculture." Asian Accounting and Auditing Advancement 2, no. 1 (December 31, 2011): 29–39. http://dx.doi.org/10.18034/4ajournal.v2i1.13.

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This study is concerned with factor substitution in Bangladesh agriculture. The translog cost function is used to study both substitutability and complementarity relationships between inputs. Using homothetic structure, the Allen partial elasticities of substitution (AES) is estimated to examine the nature of factor substitution among the four inputs of land, labor, fertilizer, and irrigation. The responsiveness of input demand to input prices is explored by estimating own price and cross-price elasticities of demand. The empirical estimates indicate the existence of both substitutability and complementarity among inputs. A very high degree of substitutability between fertilizer and irrigation was found during the study period. JEL Classification Code: Q01, R10, D24, N55

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2

W. Thuo, Miriam, and Maureen M. Ndagara. "TRANSLOG COST FUNCTION ANALYSIS FOR MANUFACTURING SECTOR IN KENYA ." International Journal of Social Science and Economic Research 6, no. 2 (February 28, 2021): 420–29. http://dx.doi.org/10.46609/ijsser.2021.v06i02.003.

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3

ESKANDER, H., M. ALHAMDANI, and Q. JASSAM. "ESTIMATION OF TRANSLOG COST FUNCTION OF BARLEY PRODUCTION IN WASIT." Mesopotamia Journal of Agriculture 46, no. 2 (June 1, 2018): 1–6. http://dx.doi.org/10.33899/magrj.2018.161438.

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4

Truett, Lila J., Dale B. Truett, and Bobby E. Apostolakis. "The Translog Cost Function and Import Demand: The Case of Mexico." Southern Economic Journal 60, no. 3 (January 1994): 685. http://dx.doi.org/10.2307/1060576.

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5

박선영, Chongwon Kim, and Seung-Hoon Yoo. "Economies of Scale in Sewage Treatment Using a Translog Cost Function." Korea Spatial Planning Review 74, no. ll (September 2012): 35–46. http://dx.doi.org/10.15793/kspr.2012.74..003.

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6

Holly, Sean, and Peter Smith. "Interrelated factor demands for manufacturing: A dynamic translog cost function approach." European Economic Review 33, no. 1 (January 1989): 111–26. http://dx.doi.org/10.1016/0014-2921(89)90040-8.

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7

Meland, William J. "Measurement of a cost function for US airlines: restricted and unrestricted translog models." Journal of Transport Literature 8, no. 2 (April 2014): 38–72. http://dx.doi.org/10.1590/s2238-10312014000200003.

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This paper continues and expands several themes from previous studies of commercial airline cost functions. A well specified industrial cost function reveals characteristics about the market players, such as economies of scale and the cost elasticities with respect to operational styles. Using a translog specification, and its restricted first-order form, this paper updates previous parameter estimates, reworks the experimental design, and gives new analysis to describe the spectrum of choices facing airline firms in recent years. The translog model in this paper allows the energy cost share to interact with other variables and illuminate what factors may exacerbate cost sensitivity to energy prices, an advance in this specific area of interpretation. The result shows that fuel cost shares tend to be higher with older equipment, smaller fleet sizes, and to be increasing in aircraft size and seating density. The restricted first-order model indicates that older aircraft designs are more costly to operate, even accounting for operational style. This may imply that airlines with poorer access to capital suffer a cost disadvantage, particularly during a fuel spike - also a new contribution of the paper. Finally, the first-order model does not reject constant returns to scale (CRS) for fleet expansion, or increasing returns to scale (IRS) in aircraft size, which are the expected results.

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8

Lantz, Van A., and Yigezu A. Yigezu. "An economic impact analysis of market and policy changes in a New Brunswick Fundy Model Forest community." Forestry Chronicle 79, no. 5 (October 1, 2003): 957–66. http://dx.doi.org/10.5558/tfc79957-5.

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A two-sector computable general equilibrium model is calibrated to the New Brunswick community of Petitcodiac using translog cost function regression analysis, and a questionnaire. Simulations are conducted for marginal reductions in both the price of lumber and the timber supply. We observe that both reductions have negative impacts on output and most production factors in the forest sector. Other production sectors tend to expand as production factors flow to where they receive their highest return. Results of this study indicate that the New Brunswick community is more (less) significantly impacted from timber supply (forest price) changes than a comparative study reports for a region in Alberta. Key words: CGE model, translog cost function, timber supply, lumber prices, regional economics, community impact

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9

Kumbhakar, Subal C. "Modeling allocative inefficiency in a translog cost function and cost share equations: An exact relationship." Journal of Econometrics 76, no. 1-2 (January 1997): 351–56. http://dx.doi.org/10.1016/0304-4076(95)01796-8.

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10

Dudzinski, Cynthia S., O. Homer Erekson, and Andrea L. Ziegert. "Estimating an hedonic translog cost function for the home health care industry." Applied Economics 30, no. 9 (September 1998): 1259–67. http://dx.doi.org/10.1080/000368498325147.

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11

Ahrendsen, Bruce L. "A Structural Approach to Estimating Rate of Return Expectations of Farmers." Journal of Agricultural and Applied Economics 25, no. 2 (December 1993): 56–68. http://dx.doi.org/10.1017/s1074070800018964.

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AbstractA dual cost function approach is developed as an alternative to time series and simplistic approaches for estimating farmers' expected operating rates of return on assets. A translog restricted cost function is estimated using data provided by 152 North Carolina dairy farmers over the period 1976 through 1986. The predicted costs from the fitted restricted cost function are used to construct estimates of farmers' expected operating rates of return on assets. The estimates from this structural approach explain more of the variation in observed rates than do time series estimates or sample mean observed rates.

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12

Shin, Yongmin, and Seonghyun Sim. "Analysis on Economies of Scale in Offshore Fishery Using a Translog Cost Function." Ocean and Polar Research 39, no. 1 (March 30, 2017): 61–71. http://dx.doi.org/10.4217/opr.2017.39.1.061.

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13

Nazir, Sidra, Nasir Mahmood, and Gulnaz Hameed. "Energy Substitution Effect in Major Energy Consumption Sectors of Pakistan: Translog Cost Function." Review of Economics and Development Studies 8, no. 2 (June 30, 2022): 167–81. http://dx.doi.org/10.47067/reads.v8i2.448.

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There is inadequate works available in the case of Pakistan that have tested the rebound effect due to energy use and its impacts on the environment, so in this study, comparative analysis of energy substitution effect on Pakistan’ three major energy consumption sectors industrial, transport and electricity sector has done, by using the translog cost function in time series data framework. And finally, the main aim is to give the Policy suggestion for different implications like energy and output, to the government of Pakistan doing the aggregate. From the analysis, it has been concluded that there are diseconomies of scale in each sector of the economy of Pakistan, as the elasticity of cost concerning output is greater than one. All energy and non-energy inputs are substitutes for each other but labor is needed more than any other input sectoral wise as it is cheaper and easily available in Pakistan. From the results, in the industrial sector capital intensive production has preferred to increase the use of energy. The rebound effect in Pakistan is negative, which means there is super conservation or have less use of energy. This could be due to the high price of energy inputs and underdevelopment, disinvestment so less profit and income generation, and technological progress leads to less use of resources.

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14

Chua, Chew Lian, Hsein Kew, and Jongsay Yong. "Airline Code-share Alliances and Costs: Imposing Concavity on Translog Cost Function Estimation." Review of Industrial Organization 26, no. 4 (June 2005): 461–87. http://dx.doi.org/10.1007/s11151-005-0223-6.

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15

Lin, Boqiang, and Peng Tian. "The energy rebound effect in China's light industry: a translog cost function approach." Journal of Cleaner Production 112 (January 2016): 2793–801. http://dx.doi.org/10.1016/j.jclepro.2015.06.061.

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16

Rezvanian, Rasoul, Nanda Rangan, and Richard Grabowski. "Market Structure And Banking Production Economies: Evidence From The 1980s Deregulation." Journal of Applied Business Research (JABR) 8, no. 3 (October 4, 2011): 46. http://dx.doi.org/10.19030/jabr.v8i3.6143.

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This study examines the changes in the cost structure of banking firms using data from pre and post deregulation periods. A translog cost function is utilized for the analyses of economies of scale and scope. The results indicate that the average cost curves, although U-shaped flattened over time, resulting in an increase in optimal bank size. Economies of scope that existed prior to deregulation appears to be exhausted in a more nonconstrained environment.

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17

Yu, Wei, and Garnett Bradford. "Rural-Urban Differences in Nursing Home Access, Quality and Cost." Journal of Agricultural and Applied Economics 27, no. 2 (December 1995): 446–59. http://dx.doi.org/10.1017/s1074070800028492.

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AbstractRural-urban differences in the supply of nursing home services are hypothesized to be jointly affected by competitive and regulatory forces, government policies, and the cost structure. Study findings indicate that rural services are slightly less accessible and lower in quality. A translog cost share function reveals no difference in the operating cost structure of rural and urban homes. Cost shares for nursing care are directly related to the degree of skilled nursing provided by homes. Significant scale economies were not detected for any of the major operating costs.

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18

Scott, Anthony, and David Parkin. "Investigating hospital efficiency in the new NHS: The role of the translog cost function." Health Economics 4, no. 6 (November 1995): 467–78. http://dx.doi.org/10.1002/hec.4730040604.

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19

Job, Swank,. "How Stable is the Multiproduet Translog Cost Function? Evidence from the Dutch Banking Industry." Credit and Capital Markets - Kredit und Kapital 29, no. 1 (January 1, 1996): 153–72. http://dx.doi.org/10.3790/ccm.29.1.153.

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20

Grisley, William, and Kangethe W. Gitu. "A Translog Cost Analysis of Turkey Production in the Mid-Atlantic Region." Journal of Agricultural and Applied Economics 17, no. 1 (July 1985): 151–58. http://dx.doi.org/10.1017/s0081305200017167.

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AbstractThe production structure of 165-hen and 200-tom turkey flocks is investigated using a translog (dual) variable cost function. The partial static equilibrium elasticities of scale, input demand, input substitution, and cross price elasticities of demand are calculated. The elasticity of scale is found to be not significantly different from one over the range of 5,900 to 9,822 birds for the hen flocks and over the range of 7,765 to 11,043 birds for the torn flocks. In general, the input demand elasticities are inelastic with the exception of the input fuel. The cross-price elasticities are in general inelastic.

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21

Sahoo, Biresh K., and Dieter Gstach. "Scale Economies in Indian Commercial Banking Sector." International Journal of Information Systems and Social Change 2, no. 4 (October 2011): 13–30. http://dx.doi.org/10.4018/jissc.2011100102.

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Two alternative estimation models, i.e., a translog cost function and data envelopment analysis (DEA) based on a cost model are compared and contrasted in revealing scale economies in the Indian commercial banking sector. The empirical results indicate that while the translog cost model exhibits increasing returns to scale for all the ownership groups, the DEA model reveals economies of scale only for foreign banks, diseconomies of scale for nationalized banks, and both economies and diseconomies of scale for private banks. The divergence of the results obtained from these two estimation models should concern model builders. From an empirical perspective the definition of scale economies through a constant input mix is very restrictive. The DEA cost model is much more flexible in this respect: It neither requires the restrictive assumptions that the unit factor prices are always available with certainty, nor that these prices are exogenous to the firms. However, the very volatile nature of the banking industry might question the validity of the empirical estimates in this deterministic setting. Therefore, further research is required to examine the bank performance behavior using both SFA and chance constrained DEA for the comparison in a stochastic setting.

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22

Hussain, Sajid, Uzma Nisar, and Waseem Akram. "An Analysis of the Cost Structure of Food Industries in Pakistan: An Application of the Translog Cost Function." LAHORE JOURNAL OF ECONOMICS 25, no. 2 (December 1, 2020): 1–22. http://dx.doi.org/10.35536/lje.2020.v25.i2.a1.

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Given the importance of food industriesin Pakistan, this studyanalyzestheircost structure by estimating thetranscendental logarithmic cost function. The study also considers elasticity of substitution along with own-price elasticity and cross-price elasticity. Four factor inputs,i.e.,labor, capital, energy,and materials,are used toestimatethe cost function. The results indicate that materialsaccount for the highest share of the cost. The elasticity of substitution of materialsfor capital and energy is also weak. The own-price elasticities indicate that the demand for materialsis least responsive to a change in its own price while the demand for other inputs varies with price. The cross-priceelasticities show that labor, capital and energy are substitutes foreach other. The output elasticity of cost demonstrates the presence of economies of scale.

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23

Smet, Mike. "Multi-product cost functions: An application to the production characteristics of secondary education in Flanders." Recherches économiques de Louvain 64, no. 4 (1998): 407–23. http://dx.doi.org/10.1017/s0770451800031663.

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SummaryThis study estimates two multi-product cost functions for the entire population of 773 Flemish secondary schools supplying a six-year study program. From the estimated parameters of a quadratic and a generalised translog cost function the degree of ray and product specific (dis)economies of scale as well as the degree of (dis)economies of scope is determined. The paper also describes how marginal costs and cost elasticities can be derived. Three major study fields can be distinguished. Student loads in each of these study fields are used as output variables. Evidence is found for ray economies of scale and global economies of scope. Especially in technical education product specific economies of scale could be realised. Cost savings by supplying two study fields jointly (pairwise scope effects) are also considerable.

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24

Modrego, Félix, Andrea Canales, and Héctor Bahamonde. "Employment effects of COVID‐19 across Chilean regions: An application of the translog cost function." Regional Science Policy & Practice 12, no. 6 (September 18, 2020): 1151–67. http://dx.doi.org/10.1111/rsp3.12337.

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25

Jha, Raghbendra, and Balbir S. Sahni. "Efficiency Profile of the Locomotive Industry in India: Translog Cost Function Estimates and Allocative Efficiency." Indian Economic Journal 41, no. 2 (December 1993): 38–47. http://dx.doi.org/10.1177/0019466219930204.

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26

Pilyavskyy, Anatoliy, Yuriy Matsiv, and Olga Vovchak. "Measuring Cost Efficiency of Ukrainian Banks in 2008." Comparative Economic Research. Central and Eastern Europe 15, no. 4 (March 8, 2013): 207–17. http://dx.doi.org/10.2478/v10103-012-0036-4.

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The paper presents the results of a stochastic frontier analysis (SFA) of cost-efficiency of Ukrainian banks. As of lack of data on the personnel costs, we had to set limits to the year of 2008 only. To modeling banking activity, we apply the intermediary approach as one of the most commonly used in literature. Considering the results of statistical tests, we chose translog functional form of cost function and half–normal distribution of random inefficiency term. As a result of the research, we found out that efficiency of Ukrainian banks varies within 0.5224 and 0.9869 with an average value of 0.8734. Having checked a range of hypotheses, we discovered insignificant distinctions among banks by their size, type of owner and location.

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27

Egbe, Emmanuel Chinyere. "Agricultural Exports and the Agenda for Accelerated Development in Africa." Review of Black Political Economy 20, no. 2 (December 1991): 65–87. http://dx.doi.org/10.1007/bf02689927.

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In this article the translog cost function with non-neutral parameter shifts is used to study the import demand functions of agricultural commodities which African countries export in competition with other developing regions of the world. It is shown that there has been a systematic bias against the import of these commodities from Africa in favor of importing them from other developing regions. It is then argued that these results support the apprehensions of many African leaders regarding the adoption of a policy of agriculture-based, export-led growth to accelerate economic development on the continent.

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28

Christev, Atanas, and Allen M. Featherstone. "A note on Allen–Uzawa partial elasticities of substitution: the case of the translog cost function." Applied Economics Letters 16, no. 11 (July 2009): 1165–69. http://dx.doi.org/10.1080/13504850701367130.

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29

Cho, Hoon-Seok, and Jong-Oh Nam. "An Analysis on Economies of Scale for Tuna Distant Longline Fishery Using a Translog Cost Function." Journal of Fisheries Business Administration 51, no. 3 (September 30, 2020): 17–31. http://dx.doi.org/10.12939/fba.2020.51.3.017.

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30

Onghena, Evy, Hilde Meersman, and Eddy Van de Voorde. "A translog cost function of the integrated air freight business: The case of FedEx and UPS." Transportation Research Part A: Policy and Practice 62 (April 2014): 81–97. http://dx.doi.org/10.1016/j.tra.2014.02.002.

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31

Stratopoulos, Theo, Evangelos Charos, and Kelly Chaston. "A translog estimation of the average cost function of the steel industry with financial accounting data." International Advances in Economic Research 6, no. 2 (May 2000): 271–86. http://dx.doi.org/10.1007/bf02296108.

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32

Kumar, Surender. "Analysing industrial water demand in India: An input distance function approach." Water Policy 8, no. 1 (February 1, 2006): 15–29. http://dx.doi.org/10.2166/wp.2006.0002.

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This study investigates the water demand of Indian manufacturing plants. It adopts an input distance function approach and approximates it by a translog form. Duality between cost function and input distance function is exploited to retrieve information concerning substitutability and the shadow price of water. The model is estimated using a linear programming approach on a sample of 92 firms over three years. The results show that the average shadow price of water is 7.21 Rupees per kilolitre (Rupees/kl) and the price elasticity of derived demand for water is high, −1.11 on average, a value similar to that found by other researchers working in developing countries (for example, China and Brazil). This indicates that water charges may be an effective instrument for water conservation.

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Ryhänen, Matti. "Input substitution and technological development on Finnish dairy farms for 1965-1991: Empirical application on bookkeeping dairy farms." Agricultural and Food Science 3, no. 6 (December 1, 1994): 519–601. http://dx.doi.org/10.23986/afsci.72722.

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The study presents an attempt to gain a better understanding of the input substitution and technological development on Finnish dairy farms. The dual approach of the neoclassical production and cost theory is applied. A system of derived demand and cost functions is estimated using a representative dairy farm data and panel data of bookkeeping Finnish dairy farms. The flexible translog cost function is utilized to solve the empirical research problem. The cost function study is chosen, because it makes it possible to study production of farms operating in the area of decreasing average costs. According to the results, inputs are for the most part substitutes with each other. With the existing production technology, the substitution of inputs for other inputs is inelastic. The own price elasticities are also inelastic. Technical change is purchased feed-saving and other inputs-using. The average annual rate of technical change was 1.3 percent. The new production chains resulting from technical change have made it possible to increase the size of dairy farms. Increasing the size of dairy farms should be allowed so in order to make it possible to utilize the advantages related to the economies of size.

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Nagubadi, Rao V., and Daowei Zhang. "Production structure and input substitution in Canadian sawmill and wood preservation industry." Canadian Journal of Forest Research 36, no. 11 (November 1, 2006): 3007–14. http://dx.doi.org/10.1139/x06-187.

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We use a translog cost function to analyze the sawmill and wood-preservation industry in Canada from 1958 to 2003. The estimated cost function is homothetic and Hicks neutral. Allen elasticities of substitution indicate that significant substitution possibilities exist. According to Morishima elasticities of substitution, substitution of labour by other inputs is easier than the substitution of other inputs by labour, and substitution of other inputs by materials is easier than the substitution of materials by other inputs. The demand for production labour, nonproduction labour, and electric power inputs is elastic. In contrast to the previous findings of zero or negative rate of technical change, we find technical progress at the rate of 0.57% per annum and a total factor productivity growth rate of 0.54% per annum in the Canadian sawmill and wood preservation industry.

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35

Drake, Leigh. "Economies of scale and scope in UK building societies: an application of the translog multiproduct cost function." Applied Financial Economics 2, no. 4 (December 1992): 211–19. http://dx.doi.org/10.1080/758527103.

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36

Størdal, Ståle, and Sjur Baardsen. "Estimating price taking behavior with mill-level data: the Norwegian sawlog market, 1974-1991." Canadian Journal of Forest Research 32, no. 3 (March 1, 2002): 401–11. http://dx.doi.org/10.1139/x01-203.

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A five input transcendental logarithmic (translog) cost function and a set of conditional input demand functions, which were extended to include a conjectural elasticity term, were analyzed. The analysis was based on data covering individual Norwegian sawmills over the period 19741991. The presence of mill-level data allowed us to test cross-sectional effects as well as intertemporal effects. Under the assumption of cost minimization, price-taking behavior was rejected for the years 1982 and 19841991. There was no variation of the conjectural elasticity over regions, but the use of market power increased after the price negotiations were brought from the national to regional levels. The necessity of having information on sawlog purchases and market areas to conclude on welfare effects is explained. This analysis also contributes to explain the post-1992 period, where the Norwegian sawlog market has experienced several structural changes.

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37

Nkomo, J. C., and H. E. Goldstein. "Demand for energy in Zimbabwe industries: an aggregated demand analysis." Journal of Energy in Southern Africa 17, no. 3 (August 1, 2006): 39–48. http://dx.doi.org/10.17159/2413-3051/2006/v17i3a3274.

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This paper describes interfuel substitution for liquid fuel, coal and electricity in Zimbabwe manufacturing and mining using a translog cost function. Our data series spans over a 24 year period. To mitigate the short time span of this time series data, we partially pool time-series cross-section observations, and take into account the ‘random effects’ and ‘fixed effects’ framework in estimating regression equations. Estimated results are used to determine possibilities for interfuel substitution particularly given persistent increases in the price of liquid fuel. We use an aggregated demand approach as this should both sharpen our results and yield more efficient estimates.

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Chuang, Chung-Chu, and Yu-Chieh Tang. "Asymmetric dependence between efficiency and market power in the Taiwanese life insurance industry." Panoeconomicus 62, no. 4 (2015): 511–25. http://dx.doi.org/10.2298/pan1504511c.

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Both market power and efficiency contribute to the viability of the insurer, making them essential for the management of life insurance companies. This study measured efficiency using the stochastic frontier approach based on the translog cost function. We then investigated the relationship between efficiency and market power using generalized extreme value analysis. The results show a strong nonlinear, asymmetric dependence between efficiency and market power of leading Taiwanese insurers. In other words, companies with greater market power do not necessarily exhibit greater efficiency. This study provides a reference to aid life insurance companies in the formulation of operational strategies.

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García Schilardi, María Emilia. "Tamaño óptimo de las empresas de transporte colectivo que operan en el Área Metropolitana de Mendoza (Argentina), 2005-2012." Tiempo y economía 8, no. 1 (January 2021): 71–94. http://dx.doi.org/10.21789/24222704.1631.

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This work makes contributions regarding the knowledge of the productive structure of the collective transport service in the Mendoza Metropolitan Area (Argentina) during the stage prior to a structural change in its mobility system. The existence of economies of scale is studied through the estimation of a translog cost function, using panel data for bus operating companies during the period 2005-2012. The results of this research show a market that operates in the production section with diseconomies of scale, where the average costs are increasing. Therefore, it is recommended for this system to operate through a larger number of small companies.

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Laumas, Prem S., and Martin Williams. "The Demand for Heterogeneous Capital and Labour Inputs in a Developing Economy." Pakistan Development Review 25, no. 2 (June 1, 1986): 127–40. http://dx.doi.org/10.30541/v25i2pp.127-140.

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By using translog cost function this paper examines the structure of production of India's manufacturing sector when heterogeneous labour and capital are employed. It concludes that (a) machinery, equipment and structures are substitutable for different types of labour; (b) non-production workers work more intensively with machines and equipment than production workers in most of the manufacturing industries; (c) non-production workers are substitutable for production workers; and (d) non-production and production workers must be treated as separate labour inputs in production, and machinery and equipment and structures should be treated as separate capital inputs.

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41

Eggert, Håkan, and Ragnar Tveterås. "Potential rent and overcapacity in the Swedish Baltic Sea trawl fishery for cod (Gadus morhua)." ICES Journal of Marine Science 64, no. 3 (March 19, 2007): 439–45. http://dx.doi.org/10.1093/icesjms/fsm019.

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Abstract Eggert, H. and Tveterås, R. 2007. Potential rent and overcapacity in the Swedish Baltic Sea trawl fishery for cod (Gadus morhua). – ICES Journal of Marine Science, 64: 439–445. Many European Union (EU) fisheries have problems with depleted stocks and fleet overcapacity following the regulation of open-access regimes. Some EU countries have introduced individual vessel quotas (IVQs), which can stop “the race to catch” and provide fishers with incentives to minimize costs for a given catch. We model an IVQ fishery using a cost function approach and apply the methodology to the Swedish cod fishery in the Baltic Sea. Estimating a translog cost function for a data set of Swedish trawlers in 2001, we assess the potential gains from structural adjustment of the fleet. Results suggest a desired fleet reduction of 50–60% and a potential resource rent amounting to 25–30% of the landing value.

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Stadhouders, Niek, Xander Koolman, Christel Dijk, Patrick Jeurissen, and Eddy Adang. "The marginal benefits of healthcare spending in the Netherlands: Estimating cost‐effectiveness thresholds using a translog production function." Health Economics 28, no. 11 (August 30, 2019): 1331–44. http://dx.doi.org/10.1002/hec.3946.

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43

Arnade, Carlos, and Christopher G. Davis. "Chickens, Feed Grains, or Both: The Mexican Market." Journal of Agricultural and Applied Economics 51, no. 02 (March 18, 2019): 286–303. http://dx.doi.org/10.1017/aae.2018.33.

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AbstractThis study connects Mexico’s imports of U.S. broiler meat with its imports of feed products. Two demand systems for Mexico are estimated: a two-stage Almost Ideal Demand System (AIDS) model for broiler meat and a demand for feed derived from a translog cost function representing the production of Mexican chickens. The models are estimated using data from 1997 to 2016. Given a change in policy where Mexico completely replaces U.S. broiler meat imports, the imports of U.S. feed products will increase. If Mexico does not completely replace U.S. imports with domestic broiler production, our model suggests that Mexican imports of U.S. feed fall.

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Choi, Seokwoo Jake, Gi-Su Kim, and BoKyung Kim. "Economic Efficiency of the Korean Container Terminals: A Stochastic Cost Frontier Approach." Journal of Korea Trade 26, no. 3 (May 30, 2022): 23–44. http://dx.doi.org/10.35611/jkt.2022.26.3.23.

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Purpose - Recent issues such as vessel enlargement, strengthening of environmental regulations, and port smartization are expected to increase costs and intensify competition in the port industry. In the new normal era, when external growth has reached its limit, the efficient operation of ports is becoming indispensable for achieving sustainable growth. This study aims to identify the determinants of inefficiency by examining the cost structure and efficiency of container terminals in Korea and furthermore propose the political implications to derive the maximization of efficiency. Design/methodology - This study estimates the cost function of container terminal operators and identifies the efficiency of container terminals using stochastic cost frontier (SCF) in the first stage. In the second step, the SCF results are compared with the data envelopment analysis (DEA). Last, this paper proposes efficiency determinants on container terminal operation to establish appropriate strategies. Out of the 29 container terminal operators in South Korea, 13 operators participated in the survey. The translog cost function was estimated utilizing a total of 116 observations collected over the 2007-2017 period. Findings - Empirical analysis shows that economies of scale exist in Korea’s container ports, which provides a rationale for the government’s policy to establish the global terminal operator by integrating small terminal operators to enhance competitiveness. In addition, as a result of the determinants analysis, container throughput, weight of direct employment costs, and labour cost share have positive effects on improving cost efficiency, while inefficiency increases as the length of quay increases. More specifically, cost efficiency improves as the proportion of direct employment costs to outsourcing service costs increases. Originality/value - This study contributes to analyzing the inefficiency factors of container terminals through efficiency analysis with respect to a cost function. In addition, this study proposes the practical and political implications, such as establishing a long-term manpower pool, the application of the hybrid liner terminal system, and the construction of a statistical data system, to improve the cost inefficiency of terminal operators.

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Kitenge, Erick. "Effects of food and agricultural imports on domestic factors in the U.S. agricultural sector: a translog cost function framework." Applied Economics Letters 23, no. 2 (August 3, 2015): 132–37. http://dx.doi.org/10.1080/13504851.2015.1058897.

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Huljak, Ivan. "Shareholder value in Croatian banking sector." Croatian Review of Economic, Business and Social Statistics 5, no. 1 (May 1, 2019): 1–8. http://dx.doi.org/10.2478/crebss-2019-0001.

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AbstractThe view on banks as investments in Croatia is challenged by two phenomena: dual holdings (owners are intensely involved in bank balance sheet as, apart from equity, they provide a significant portion of deposits and loans) and the impediments to determining the cost of equity (as only a handful of banks are traded and with questionable liquidity in the capital market). The paper contributes to the literature by applying the panel regression on the translog cost function in order to calculate the shadow cost of equity for banks in Croatia for the period from 1994 to 2016. In the next step, the Economic Value Added was calculated by taking into account the dual holding role of bank owners. The results suggest that the shareholders economic value is significantly different from the accounting value. In addition, it seems that the standard view that domestic banks are less profitable than foreign banks is only valid from the accounting perspective.

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McQueen, James RG, and Karen Potter-Witter. "The sawmill industry of the Lake States: a study of productivity, technological change, and factor demand." Canadian Journal of Forest Research 36, no. 10 (October 1, 2006): 2633–41. http://dx.doi.org/10.1139/x06-144.

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A translog variable cost function of the sawmill industry in Michigan, Minnesota, and Wisconsin was estimated using pooled time-series data for the period 1963–1996 with inputs labour, materials, and capital. The estimated model imposed Hicks-neutral technical change and allowed for nonconstant returns to scale as well as nonunitary elasticities of substitution amongst the inputs. Results for the Allen–Uzawa partial elasticity of substitution and the Morishima elasticity of substitution indicate that the three inputs were inelastic substitutes. The own-price elasticities of demand and the cross-price elasticities were all inelastic. The industry exhibits increasing returns to scale and positive technical change. Total factor productivity was increasing by 0.69%/year over the study period.

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Ereta, Astereye Enyew, Eshetu Yadecha Bedada, and Tesfaye Ginbare Gutu. "Determinants of banks’ cost efficiency: a case study of selected commercial banks, Ethiopia." Jurnal Perspektif Pembiayaan dan Pembangunan Daerah 8, no. 3 (August 31, 2020): 231–44. http://dx.doi.org/10.22437/ppd.v8i3.9368.

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This study examines the determinants of cost efficiency commercial banks’ in Ethiopian using balanced panel data with a sample of 13 commercial banks over the period 2010-2017 by paying a translog stochastic cost frontier approach. The identification and selection of inputs and outputs variables was based on the intermediation approach. Accordingly, three input variables (cost of labor, cost of capital, and cost of fund) and two output variables (total loans and other earning assets) are used in the study. Furthermore, five banks specific and one macroeconomic variable are included to examine their effect on cost efficiency. So as to examine the effect of determinant variables which are associated with banks efficiency, a single stage maximum likelihood estimation method is applied to stochastic frontier cost function. The empirical estimations were accomplished by Appling a single stage maximum likelihood function assimilated into Stata software. The estimation is based on conditional mean model concepts. The finding shows that from bank specific factors, return on assets (ROA), and intermediation ratio have positive and significant for intermediation (IR) and insignificant for ROA with cost inefficiency. On the other hand, Bank size (lnTA), Credit risk (CR) and capital adequacy ratio (CAR) have a significant negative coefficient with cost inefficiency. GDP also has negative but insignificant with inefficiency. Therefore, banks are recommended to improve and sustain their efficiency by maintaining available proportion of capital adequacy ratio and attract high value, low interest-bearing demand deposits.

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Zhu, Runqing, and Boqiang Lin. "How Does the Carbon Tax Influence the Energy and Carbon Performance of China’s Mining Industry?" Sustainability 14, no. 7 (March 24, 2022): 3866. http://dx.doi.org/10.3390/su14073866.

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As the world’s largest energy consumer, China’s CO2 emissions have significantly risen, owing to its rapid economic growth. Hence, levying a carbon tax has become essential in accelerating China’s carbon neutralization process. This paper employs the two-stage translog cost function to calculate the price elasticity of the mining industry’s energy and input factors. Based on the price elasticity, the carbon tax’s influence on the mining industry’s energy and carbon performance is estimated. In the calculation of energy efficiency, the non-radial directional distance function is adopted. The results express that the carbon tax significantly decreases the mining industry’s CO2 emissions and promotes its energy and carbon performance. In addition to levying a carbon tax, the government should also strengthen the market-oriented reform of the oil and power infrastructure to optimize the mining industry’s energy structure.

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Bagadeem, Salim. "Estimating the Translog Cost Function for the Telecommunications Sector in Saudi Arabia: The Case of Saudi Telecom Company: An Empirical Study." International Journal of Financial Research 12, no. 3 (January 11, 2021): 19. http://dx.doi.org/10.5430/ijfr.v12n3p19.

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The objective of this research paper is to estimate a translog cost function for the Saudi Arabian telecommunications sector. Telecommunications sector is one of the rapidly growing sectors during the past decade nationwide. A Saudi Telecom Company (STC) data set has been used, as STC has the largest share of the telecommunications sector in Saudi Arabia. Three input cost factors have been considered: marketing and sales, capital and other expenditures. The outputs were total revenue and number of subscribers. The estimation results show that marketing and sales costs are the most important productive components and that capital costs come next. The demand price elasticity values suggest that capital is the most important factor in terms of price sensitivity, which underlines the importance of capital and technology supplies as a necessary component, primarily for the telecommunications sector. From the findings, the telecom sector today relies on advanced technology that incurs high cost. Searching for appropriate funding mechanisms is logical and even necessary for sophisticated technologies and increasing costs. Upgrading marketing techniques, supporting customer services programmes and developing training programmes would yield excellent outcomes and enhance performance. The estimation results end with checking the existence economics of scale, and it has been found that the industry has increasing returns to scale. Therefore, it would be highly recommended to expand the services offered by the telecommunications sector.

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