The analysis of irreversibility, uncertainty and dynamic technical inefficiency on the investment decision in the Spanish olive sector

Lambarraa, Fatima; Stefanou, Spiro E.; Gil, José M.

doi:10.1093/erae/jbv006

Cited by 23 publications

(19 citation statements)

References 43 publications

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“…() and Lambarraa et al . (). This model, as in the case of the generalised true random‐effects model, can provide an estimate of both the short‐ and long‐run firm‐level efficiency.…”

Section: Literature Reviewmentioning

confidence: 99%

“…Tsionas () and Lambarraa et al . () fail to derive the long‐run efficiency of firms due to the specification of time‐varying covariates in the autoregressive process. Emvalomatis et al .…”

Section: Literature Reviewmentioning

confidence: 99%

“…(), and Lambarraa et al . (), we consider a dynamic stochastic frontier model that specifies an autoregressive process on firm‐specific technical efficiency . However, in this study, as in Galán et al .…”

Section: Modelling Approach and Estimationmentioning

confidence: 99%

“…Criticism related to the specification of an autoregressive process on a non-negative variable, has led Tsionas (2006) to specify an autoregressive process on transformed efficiency that can take any value on the real line. The same approach was followed by Emvalomatis et al (2011), Emvalomatis (2012, Gal an et al (2015) and Lambarraa et al (2016). This model, as in the case of the generalised true random-effects model, can provide an estimate of both the short-and long-run firmlevel efficiency.…”

Section: Literature Reviewmentioning

confidence: 99%

See 3 more Smart Citations

Heterogeneity of Long‐run Technical Efficiency of German Dairy Farms: A Bayesian Approach^*

Skevas¹,

Emvalomatis²,

Brümmer³

2017

J Agricultural Economics

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In parametric efficiency studies, two alternative approaches exist to provide an estimate of the long-run efficiency of firms: the dynamic stochastic frontier model and the generalised true random-effects model. We extend the former in order to allow for heterogeneity in the long-run technical efficiency of firms. This model is based on potential differences in firm-specific characteristics and in firms' inefficiency persistence. The model is applied to an unbalanced micro-panel of German dairy farms over the period 1999 to 2009. Estimation of long-run technical efficiency and inefficiency persistence is based on an output distance function representation of the production technology and estimated in a Bayesian framework. The results suggest that heterogeneity in long-run technical efficiency of farms is mostly attributed to discrepancies in farm-specific factors rather than differences in farms' inefficiency persistence. Farm size is positively related to long-run technical efficiency while subsidies exert a negative effect on the long-run technical efficiency of farms. Inefficiency persistence is found to be very high, but heterogeneity in this persistence is low.

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Section: Literature Reviewmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

Section: Modelling Approach and Estimationmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

See 2 more Smart Citations

Heterogeneity of Long‐run Technical Efficiency of German Dairy Farms: A Bayesian Approach^*

Skevas¹,

Emvalomatis²,

Brümmer³

2017

J Agricultural Economics

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“…It raises unemployment and lowers inflation at the same time. Uncertainty increases the real option value of waiting (Dixit and Pindyck 1994;Lambarraa et al 2016). Firms will temporarily pause their investment and hiring.…”

Section: Theoretical Frameworkmentioning

confidence: 99%

Import vulnerability in the Middle East: effects of the Arab spring on Egyptian wheat trade

Veninga

Ihle

2018

Food Sec.

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The 'Arab Spring' spilled over to Egypt from neighbouring Arab countries in the first half of 2011. General chaos during the political instabilities suddenly caused high uncertainty for consumers and traders, and temporarily rendered institutions dysfunctional. This eventually might have led to a negative market shock, impeding economic activity in general and, in particular, trade. Wheat is the main ingredient in the Egyptian diet and is heavily subsidised in the country. The general availability of cheap wheat flour creates a very high domestic demand for wheat. Therefore, Egypt is highly dependent on wheat imports from other countries for ensuring food security. This dependency makes the country vulnerable to increasing food prices and other shocks to the world market which might challenge flows of imports. This paper investigates the effects of domestic political instability on the wheat trade in Egypt. We analysed monthly trade data for wheat from the Comtrade Database of the United Nations, particularly imports and exports of wheat and wheat flour in Egypt from 2010 to 2014. The analysis showed pronounced and stable seasonal patterns whereby the pattern of 2011, the year of most intensive political turmoil in Egypt, was found to differ significantly from other years. We found robust evidence for a strong, negative demand shock in the second half of 2011 caused by the substantial and enduring political instabilities in the country which resulted from the Arab Spring.

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Dynamic Analysis of Production

Stefanou

2020

Handbook of Production Economics

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The analysis of irreversibility, uncertainty and dynamic technical inefficiency on the investment decision in the Spanish olive sector

Cited by 23 publications

References 43 publications

Heterogeneity of Long‐run Technical Efficiency of German Dairy Farms: A Bayesian Approach^*

Heterogeneity of Long‐run Technical Efficiency of German Dairy Farms: A Bayesian Approach^*

Import vulnerability in the Middle East: effects of the Arab spring on Egyptian wheat trade

Dynamic Analysis of Production

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The analysis of irreversibility, uncertainty and dynamic technical inefficiency on the investment decision in the Spanish olive sector

Cited by 23 publications

References 43 publications

Heterogeneity of Long‐run Technical Efficiency of German Dairy Farms: A Bayesian Approach*

Heterogeneity of Long‐run Technical Efficiency of German Dairy Farms: A Bayesian Approach*

Import vulnerability in the Middle East: effects of the Arab spring on Egyptian wheat trade

Dynamic Analysis of Production

Contact Info

Product

Resources

About

Heterogeneity of Long‐run Technical Efficiency of German Dairy Farms: A Bayesian Approach^*

Heterogeneity of Long‐run Technical Efficiency of German Dairy Farms: A Bayesian Approach^*