EXPLORING ALTERNATIVES FOR ESTIMATING SYSTEMS OF EQUATIONS WITH MULTIPLE CENSORED VARIABLES: FARM OUTPUT SUPPLY AND INPUT DEMAND

This paper explores two alternatives for estimating systems of equations with multiple censored variables: Maximum Simulated Likelihood and a two-step technique that seems to be well suited for large samples. The empirical part of the paper estimates a system of cost, cost shares and revenue shares equations of Italian farms using both approaches.Research Methods/ Statistical Methods,

ESTIMATION OF A U.S. DAIRY SECTOR MODEL BY MAXIMUM SIMULATED LIKELIHOOD

This paper estimates a multivariate tobit system of monthly wholesale dairy prices where 4 prices are lower censored by the dairy price support program. Using Maximum Simulated Likelihood (MSL) we test/correct for the effects of simulation noise and present two tests for estimating multivariate versus the singel tobit equations.Demand and Price Analysis, Research Methods/ Statistical Methods,

A two particle hidden sector and the oscillations with photons

We present a detailed study of the oscillations and optical properties for vacuum, in a model for the dark sector that contains axion-like particles and hidden photons. In this model, both can couple to photons. We provide bounds for the couplings versus the mass, using current results from ALPS-I and PVLAS. We also discuss the challenges for the detection of models with more than one hidden particle in light shining trough wall-like experiments.Comment: 23 pages, 7 figures. Figures are coloure

Accounting for unobservables in production models:management and inefficiency

This paper explores the role of unobserved managerial ability in production and its relationship with technical efficiency. Previous analyses of managerial ability have been based on strong assumptions about its role in production or on the use of proxies. We avoid these limitations by introducing managerial ability as an unobserved random variable in a translog production function. The resulting empirical model can be estimated as a stochastic production frontier with random coefficients.Managerial ability, technical efficiency, production frontier, random coefficients model, maximum simulated likelihood.

Econometric testing of spatial productivity spillovers from public capital

In this paper we review two different approaches followed in the empirical literature to test for the existence of public capital spillovers. Additionally, we explore the role played by an additive aggregator of public capital in neighboring regions versus the multiplicative aggregator used previously in the literature. In the empirical application we compare the different methodologies using a panel data set of the 47 mainland Spanish provinces. We do not find evidence of the existence of spillover effects of public infrastructure.Public capital, public infrastructure, spatial spillovers.

Las ventajas y desventajas de fusionar las empresas del estado colombiano

Sin lugar a dudas el mayor beneficiado con las fusiones de las empresas del estado colombiano, es este mismo, son validas las figuras de las crisis económicas de las empresas fusionadas, así como la ineficiencia administrativa de las mismas, no obstante la fusión tiene sus beneficios como es el resurgimiento de nuevas empresas, donde el estado puede rectificar los errores cometidos en el pasado, se analizo un caso práctico de la vida real que contextualiza al lector en la comprensión del significado de las empresas fusionadasWithout doubt the major benefitted with the fusions of the companies of the Colombian State, is this same one, are been worth the figures of the economic crises of the fused companies, as well as the administrative inefficiency of the same, despite the fusion has its benefits as it is the resurgence of new companies, where the State can rectify the errors committed in the past, I analyze a practical case of the real life that it contextualises to the reader in the understanding of the meaning of the fused companie

On non representable preferences

In this note, we prove that for every non-separable metric space there is a continuous preference ordering which is non respresentable by an utility function