translogCostEst: Estimate a translog Cost Function

In micEcon: Microeconomic Analysis and Modelling

Estimate a translog Cost Function

Description

Estimate a translog cost function.

NOTE: this function is still under development and incomplete!

Usage

   translogCostEst( cName, yName, pNames, data, fNames = NULL, 
      shifterNames = NULL, dataLogged = FALSE, homPrice = TRUE, ... )

Arguments

cName	a string containing the name of the variable for total cost.
yName	a string containing the name of the variable for the total output quantity.
pNames	a vector of strings containing the names of the input prices.
data	data frame containing the data (possibly a panel data frame created with pdata.frame).
fNames	a vector of strings containing the names of fixed inputs.
shifterNames	a vector of strings containing the names of the independent variables that should be included as shifters only (not in quadratic or interaction terms).
dataLogged	logical. Are the values in data already logged?
homPrice	logical. Should homogeneity of degree one in prices be imposed?
...	further arguments are passed to lm or plm.

Value

a list of class translogCostEst containing following objects:

est	the object returned by lm or plm.
nExog	length of argument xNames.
nShifter	length of argument shifterNames.
residuals	residuals.
fitted	fitted values.
coef	vector of all coefficients.
coefCov	covariance matrix of all coefficients.
r2	R^2 value.
r2bar	adjusted R^2 value.
nObs	number of observations.
model.matrix	the model matrix.
call	the matched call.
cName	argument cName.
yName	argument yName.
pNames	argument pNames.
fNames	argument fNames.
shifterNames	argument shifterNames.
dataLogged	argument dataLogged.
homPrice	argument homPrice.

Author(s)

Arne Henningsen

See Also

translogEst and quadFuncEst.

Examples

   data( germanFarms )
   # output quantity:
   germanFarms$qOutput <- germanFarms$vOutput / germanFarms$pOutput
   # value of labor input
   germanFarms$vLabor <- germanFarms$pLabor + germanFarms$qLabor
   # total variable cost
   germanFarms$cost <- germanFarms$vLabor + germanFarms$vVarInput
   # a time trend to account for technical progress:
   germanFarms$time <- c(1:20)

   # estimate a translog cost function
   estResult <- translogCostEst( cName = "cost", yName = "qOutput", 
      pNames = c( "pLabor", "pVarInput" ), fNames = "land",
      shifterNames = "time", data = germanFarms, homPrice = FALSE )

   summary( estResult$est )

micEcon documentation built on Sept. 4, 2022, 1:06 a.m.