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Fixed-Effect Estimation of Highly-Mobile Production TechnologiesWilliam C. HorraceSyracuse University - Department of Economics; National Bureau of Economic Research (NBER) Kurt E. SchnierUniversity of Rhode Island - Department of Environmental and Natural Resource Economics April 1, 2008 Center for Policy Research Working Paper No. 87 Abstract: We consider fixed-effect estimation of a production function where inputs and outputs vary over time, space, and cross-sectional unit. Variability in the spatial dimension allows for time-varying individual effects, without parametric assumptions on the effects. Asymptotics along the spatial dimension provide consistency and normality of the marginal products. A finite-sample example is provided: a production function for bottom-trawler fishing vessels in the flatfish fisheries of the Bering Sea. We find significant spatial variability of output (catch) which we exploit in estimation of a harvesting function.
Number of Pages in PDF File: 34 Keywords: Panel data, time-varying individual effect, spatial econometrics, fisheries, agriculture, heteroskedasticity JEL Classification: C23, D24, N50 working papers seriesDate posted: April 20, 2011Suggested CitationContact Information
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