META‐ANALYSIS OF ECONOMICS RESEARCH REPORTING GUIDELINES

Meta‐regression analysis (MRA) can provide objective and comprehensive summaries of economics research. Their use has grown rapidly over the last few decades. To improve transparency and to raise the quality of MRA, the meta‐analysis of economics research‐network (MAER‐Net) has created the below reporting guidelines. Future meta‐analyses in economics will be expected to follow these guidelines or give valid reasons why a meta‐analysis must deviate from them.     

Statistical Inference in Nonparametric Frontier Models: The State of the Art

Efficiency scores of firms are measured by their distance to an estimated production frontier. The economic literature proposes several nonparametric frontier estimators based on the idea of enveloping the data (FDH and DEA-type estimators). Many have claimed that FDH and DEA techniques are non-statistical, as opposed to econometric approaches where particular parametric expressions are posited to model the frontier. We can now define a statistical model allowing determination of the statistical properties of the nonparametric estimators in the multi-output and multi-input case. New results provide the asymptotic sampling distribution of the FDH estimator in a multivariate setting and of the DEA estimator in the bivariate case. Sampling distributions may also be approximated by bootstrap distributions in very general situations. Consequently, statistical inference based on DEA/FDH-type estimators is now possible. These techniques allow correction for the bias of the efficiency estimators and estimation of confidence intervals for the efficiency measures. This paper summarizes the results which are now available, and provides a brief guide to the existing literature. Emphasizing the role of hypotheses and inference, we show how the results can be used or adapted for practical purposes.     

n维线性商品空间中的比较优势效率

迄今为止，人们对一般情况下的比较优势的效率结构尚缺乏清楚的了解。本文在假定只有两个国家，且每个国家的生产可能性边界均为线性的基础上，从相对简单的三维商品空间开始分析，然后讨论四维商品空间中的比较优势问题，最后通过对所得结果的观察、分析和归纳，建立任意维商品空间中的比较优势的一般理论。     

Some Problems with the Ferrier/Hirschberg Bootstrap Idea

This paper demonstrates that the bootstrap procedure suggested by Ferrier and Hirschberg (1997) gives inconsistent estimates. A very simple example is given to illustrate the statistical issues underlying nonparametric efficiency measurement and the problems with the Ferrier/Hirschberg approach, and may serve as a primer on bootstrapping in nonparametric models of production processes.     

Technical efficiency in farming: a meta-regression analysis

A meta-regression analysis including 167 farm level technical efficiency (TE) studies of developing and developed countries was undertaken. The econometric results suggest that stochastic frontier models generate lower mean TE (MTE) estimates than non-parametric deterministic models, while parametric deterministic frontier models yield lower estimates than the stochastic approach. The primal approach is the most common technological representation. In addition, frontier models based on cross-sectional data produce lower estimates than those based on panel data whereas the relationship between functional form and MTE is inconclusive. On average, studies for animal production show a higher MTE than crop farming. The results also suggest that the studies for countries in Western Europe and Oceania present, on average, the highest levels of MTE among all regions after accounting for various methodological features. In contrast, studies for Eastern European countries exhibit the lowest estimate followed by those from Asian, African, Latin American, and North American countries. Additional analysis reveals that MTEs are positively and significantly related to the average income of the countries in the data set but this pattern is broken by the upper middle income group which displays the lowest MTE.

中国战略性新兴产业技术效率及其影响因素研究

运用随机前沿生产函数模型,采用2003—2010年面板数据,对中国战略性新兴产业19个细分行业的技术效率及其影响因素展开深入分析。结论表明,中国战略性新兴产业的技术进步速度较快,但技术效率水平较低,并呈现起伏波动的特征;中国战略性新兴产业存在行业、区域异质性,不同行业、不同区域的技术效率差异明显;外生性因素中,产业集聚度、企业规模和外商直接投资对战略性新兴产业技术效率具有正向促进作用,出口贸易和国有经济比重对战略性新兴产业技术效率产生负效应;外生性因素对中国不同地区战略性新兴产业技术效率的影响不尽相同。     

效率改善、经济发展和地区差异——基于对中国三大城市经济圈的实证研究

本文通过采用两种生产边界方法将中国三大城市经济圈(京津冀、长三角、珠三角)38个城市1990~2005年的劳动平均GDP分解为物质资本积累、效率改善、技术进步和人力资本投入所贡献的经济增长,然后采用绝对收敛方程考察这4个因素的收敛效应。实证结果表明,效率改善是其中唯一使地区间差距缩小的因素,而且其收敛效应随时间的推移呈现出先减后增的趋势,即进入20世纪90年代以来地区间差异有先拉大后缩小的趋势,但是缩小的效果还很不显著。     

Economic Efficiency and Frontier Techniques

Abstract. Most of the literature related to the measurement of economic efficiency has based its analysis either on parametric or on non‐parametric frontier methods. The choice of estimation method has been an issue of debate, with some researchers preferring the parametric and others the non‐parametric approach. The aim of this paper is to provide a critical and detailed review of both core frontier methods. In our opinion, no approach is strictly preferable to any other. Moreover, a careful consideration of their main advantages and disadvantages, of the data set utilized, and of the intrinsic characteristics of the framework under analysis will help us in the correct implementation of these techniques. Recent developments in frontier techniques and economic efficiency measurement such as Bayesian techniques, bootstrapping, duality theory and the analysis of sampling asymptotic properties are also considered in this paper.     

基于随机前沿模型的中国生产性服务业技术效率测算及影响因素探讨

本文运用随机前沿生产函数模型,根据1993~2008年数据,对我国生产性服务业及细分行业技术效率的时间和区域特征以及影响因素展开深入分析。结果表明,生产性服务业技术效率水平较低,呈现出小幅波动特征;技术效率的区域差异主要表现在东部和中西部之间;专业化水平、规模经济和市场化水平是影响生产性服务业技术效率的重要因素。以上结论在细分行业之间的表现不尽相同。     

Nonparametric efficiency analysis: A multivariate conditional quantile approach

This paper focuses on nonparametric efficiency analysis based on robust estimation of partial frontiers in a complete multivariate setup (multiple inputs and multiple outputs). It introduces α-quantile efficiency scores. A nonparametric estimator is proposed achieving strong consistency and asymptotic normality. Then if α increases to one as a function of the sample size we recover the properties of the FDH estimator. But our estimator is more robust to the perturbations in data, since it attains a finite gross-error sensitivity. Environmental variables can be introduced to evaluate efficiencies and a consistent estimator is proposed. Numerical examples illustrate the usefulness of the approach.     

A general framework for frontier estimation with panel data

The main objective of the paper is to present a general framework for estimating production frontier models with panel data. A sample of firms i = 1, ..., N is observed on several time periods t = 1, ... T. In this framework, nonparametric stochastic models for the frontier will be analyzed. The usual parametric formulations of the literature are viewed as particular cases and the convergence of the obtained estimators in this general framework are investigated. Special attention is devoted to the role of N and of T on the speeds of convergence of the obtained estimators. First, a very general model is investigated. In this model almost no restriction is imposed on the structure of the model or of the inefficiencies. This model is estimable from a nonparametric point of view but needs large values of T and of N to obtain reliable estimates of the individual production functions and estimates of the frontier function. Then more specific nonparametric firm effect models are presented. In these cases, only NT must be large to estimate the common production function; but again both large N and T are needed for estimating individual efficiencies and for estimating the frontier. The methods are illustrated through a numerical example with real data.     

ALCOHOL CONSUMPTION AND HUMAN CAPITAL: A RETROSPECTIVE STUDY OF THE LITERATURE

Abstract Grossman proposed an individual's health can be viewed as one aspect of their human capital. Following this line of thought a number of recent papers have reported a positive impact of alcohol consumption on earnings. The rationale for the existence of such a relationship is the positive impact of alcohol on physical and mental health. We conduct a meta‐analysis to determine whether such factors as: the estimation technique, the presence of ex‐drinkers in the sample, possible sample selection bias and publication bias may all contribute to these findings. An additional suggestion for the positive relationship between alcohol and wages is the presence of a common set of personality traits that determines drinking behaviour and also leads to higher earnings. We examine this relationship by reviewing the literature that investigates if the personality influencing aspects of alcohol consumption influences measures of human capital. We also survey the significant body of research that has examined how alcohol consumption has been found to influence educational outcomes and the work force participation of problem drinkers.     

The Income Elasticity of Money Demand: A Meta‐Analysis of Empirical Results*

Abstract. In this paper, we use meta‐analytic methods to investigate possible sources for the large variation in empirical findings about the income elasticity of money demand. Our results suggest that the broadness of the monetary aggregate, the inclusion of wealth and the consideration of financial innovation exert a significant influence on estimated income elasticities. Furthermore, we find substantial cross‐country differences, in particular between the US and other countries. These differences can, to some extent, be explained by the macrofeconomic environment and the dissemination of payment cards.     

FINANCIAL DEVELOPMENT AND ECONOMIC GROWTH: A META‐ANALYSIS

We analyze 1334 estimates from 67 studies that examine the effect of financial development on economic growth. Taken together, the studies imply a positive and statistically significant effect, but the individual estimates vary widely. We find that both research design and heterogeneity in the underlying effect play a role in explaining the differences in results. Studies that do not address endogeneity tend to overstate the effect of finance on growth. While the effect seems to be weaker in less developed countries, the effect decreases worldwide after the 1980s. Our results also suggest that stock markets support faster economic growth than other financial intermediaries.     

INFLATION AND CENTRAL BANK INDEPENDENCE: A META‐REGRESSION ANALYSIS

Abstract Using 59 studies, we perform a meta‐regression analysis of studies examining the relationship between inflation and central bank independence (CBI). The studies considered are very different with respect to the CBI indicator used, the sample of countries and time periods covered, model specification, estimators used and publication outlet. We conclude that there is a significant publication bias. However, we also find a significant genuine effect of CBI on inflation. Differences between studies are not caused by differences in CBI indicators used.