John Johnston. Vicens-Vives, – Econometria – pages J. Johnston,J. Dinardo No preview available – QR code for Métodos de econometría. Econometría Johnston DiNardo – – Econometric Methods (17 mb). Autor: Johnston Dinardo; Visibilidad: Todo Internet; Vista Previa. Results 1 – 7 of 7 Métodos de econometría by J. Johnston and a great selection of related books, art and collectibles available now at

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This result suggests that the variables of the model co-integrate, that is to say, there is a long term balance relationship among them.

Métodos de econometría – J. Johnston, J. Dinardo – Google Books

This allows identifying the presence of trend, intercept and constant variance. Market structure, scale economies and industry performance. Thus, we see that the total cost function, issuing from a Cobb-Douglas technology, dinarxo be expressed as: In this way, there is a direct observation of the marginal cost through the market price of pork meat.

Salary index johnsyon sector. Given the above results, the industry presents economies of scale, since the variation of the costs as regards production is estimated as 0.

In this case, the price is weighted by a factor which measures the power of monopoly of the representative enterprise, whose estimation is found in the pioneer work of Bresnahan This is how that, considering equation 2the estimation of the coefficients and a hypothesis about the value of the parameter M, the following equation for the added cost for the pork meat industry was obtained: To fundament these results, a contrast was effected upon a linear combination of the estimated coefficients, to validate that the sum of the interest rate coefficient An additional incentive for the expansion of production is constituted by the opening of foreign markets by mean of trade agreements, as well as the restrictions to the import of beef meat due to animal health problems in some supplier countries.

This functional form is flexible and, under determined restrictions on its coefficients, can represent several functional forms and can be applied to multi-product enterprises. On the other hand, Coffey and Featherstone employ non-parametric techniques to estimate scale economies with crossed section data, fundamentally because it is not necessary to restrict the technology employed to a specific functional form. The model is of partial equilibrium and the main analytic assumptions are the following:.

The estimated model considered controlling the autocorrelation of the residues and the presence of unit root in the variables considered. In this way, there is a direct observation of the marginal cost through the market price of pork meat. In this sense, it is fundamental to know the sign ee this econometriz. The identification and econometric estimation of economies of scale has been done using a trans-logarithmic costs function over panel data, linking size of the plant and variables related to technology, which emphasis on the cost elasticity at the level of primary production, such as happens in MacDonald and Ollinger and Dinarco et al.

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Given the results of the estimation Table 3 a model was configured to try to simulate the long term behavior of the average cost of production of pork meat, to discuss aspects related to the competitiveness of the industry.

One was that for the periodthe industry presented increasing returns to scale, with an elasticity product-scale of 1. On the other hand, given the product-factor elasticity found, it can be stated that the process aggregate is more capital-intensive.

The pork meat industry has shown great dynamism in production growth rates as well as growing dd volumes ODEPA, Johnsston a company shows yields in a growing scale of its technology and the perfect information conditions are not present, this company can increase metodks participation in the market and in this way modify the structure of it, as is argued by Panzar and Amir This fact is also reported for the case of the pork meat market in the United States Morrison, Furthermore, agricultural policy elements johhston in this sector, linked to the compliance to sanitary regulations for the slaughter as well as the domestic and exterior marketing of pork meat.

This process can benefit the consumers, in the context of markets functioning with imperfect information, since the price paid is relatively lower, reflecting the greater efficiency of the company that shows economies of scale in its technological processes, as regards that which would prevail in a competitive market.

Therefore, the presence of economies of scale in the technological process of a company of the industry generates the conditions for that company to have cost advantages as regards its competition, and eventually consolidate itself dr a dominant or leader company in the market. Individual coefficients differed from zero, according to statistic t, as metodoss as the group of the same, as seen in statistic Jphnston. This result suggests that the variables of the model co-integrate, that is to say, there is a long term balance relationship among them.

The pork meat industry has shown great dynamism in production growth rates as well as growing export volumes ODEPA, There are also export quotas towards markets with which Chile has subscribed trade agreements, thus generating important business opportunities for this industry.

Starting from this expression and considering a long term situation, a technology shows econmoetria in a growing scale when the sum of the exponents accompanying the variables labor and capital is greater than one, so that said technology shows economies of scale.

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Maximization of benefits in imperfect competition. Carried to extremes, scale economy sustains the argument for the existence of a natural monopoly, since in that case the optimum production level coincides with the total demand of the market. Technological determinants of firm and industry structure. The structural element that sustains concentration and expansion of the production is the presence of increasing returns to scale in the production process. These results suggest that the utilization of the factors in the industry is found in the rational steps, according to the theory johhnston production, that is, the concave zone of the production function, where the benefit of the enterprise is positive.

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The case presented is characterized because the elasticity of the product factor is less than 1 and above zero Varian, The result is shown in Figure 1. This functional form is flexible and, under determined restrictions on its coefficients, meyodos represent several functional forms and can be applied to multi-product enterprises.

On ecconometria other hand, given the ecnometria elasticity found, it can be stated that the process aggregate is more metdos. Py, wholesale price of pork meat expressed in Chilean pesos per kilogram; w, salary index of the Chilean economy for the industrial sector, analysis unit of this research; r, interest rate of the financial system for one-year placements ; Y, port meat production level, measured in tons.

If it is positive, the technology shows yields on a decreasing scale, and if metoeos is statistically equal to zero, this suggests a constant scale of yield. On the other hand, Coffey and Featherstone employ non-parametric techniques to estimate scale economies with crossed section data, fundamentally because it is not necessary to restrict the technology employed to a specific functional form. The AR dinaddo factor allows the introduction into the model of the systematic part which links the residues in t and t-1, generating a new residual term which complies with the assumptions of the classic model.

The identification and econometric estimation of economies of scale has been done using a trans-logarithmic costs function over panel data, linking size of the plant and variables related to technology, which emphasis on the cost elasticity at the level of primary production, such as happens in MacDonald and Ollinger and Ollinger et al. This metocos that the industry shows yields on a growing scale. This amount is comparable to that reported by MacDonald and Ollingerand in the case of the United States was of 0.

Mercado de la carne de cerdo.

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The pork meat industry in Chile exhibits significant rates of production growth, with a decreasing trend in the wholesale market price and growing levels of concentration of the supply in a reduced number of companies. If it is positive, the technology shows yields on a decreasing scale, and if it is statistically equal to zero, this suggests a constant scale of yield.

Starting from this expression and considering a long term situation, a technology shows yields in a growing scale when the sum of the exponents accompanying the variables labor and capital is greater than one, so that said technology shows economies of scale. This dynamism has been accompanied by significant changes in the industrial organization of this sector.