Imposing Monotonicity in Stochastic Frontier Models: an Iterative Nonlinear Least Squares Procedure
In: CEIS Working Paper No. 462
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In: CEIS Working Paper No. 462
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In: Bank of Italy Temi di Discussione (Working Paper) No. 1147
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In: CEIS Working Paper No. 231
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In: CEIS Working Paper No. 388
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In: CESifo economic studies: a joint initiative of the University of Munich's Center for Economic Studies and the Ifo Institute, Band 64, Heft 2, S. 241-254
ISSN: 1612-7501
In: CEIS Working Paper No. 377
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This paper studies the impact of municipal non-residential property taxation on firms' performance using a panel data of italian manufacturing firms in 2001-2010. In the spirit of Duranton et al. (2011), we use a pairwise spatial difference instrumental variable estimator which allows to tackle the endogeneity of local taxation. As well as providing robust inference to arbitrary cross-sectional dependence and serial correlation, our empirical strategy also improves on existing work by exploiting the exogenous variation in local taxes generated by the political alignment of each jurisdiction with the central government. We find that non-residential property taxation exert a negative impact on firms' employment, capital and sales to such an extent as to significantly affect total factor productivity.
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In: NBER Working Paper No. w26202
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In: CEIS Woorking Paper No. 425
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In: Information economics and policy, Band 22, Heft 3, S. 257-275
ISSN: 0167-6245
In: CEIS Working Paper No. 529
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In: JBEF-D-23-00399
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In: CEIS Working Paper No. 367
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In: CEIS Working Paper No. 504
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In: CEIS Working Paper No. 418
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