NDLI: Persistent and Transient Cost Efficiency An Application to the Swiss Hydropower Sector

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Persistent and Transient Cost Efficiency An Application to the Swiss Hydropower Sector

Content Provider	Scilit
Author	Filippini, Massimo Geissmann, Thomas Greene, William H.
Copyright Year	2016
Description	Journal: SSRN Electronic Journal Over the past few years, the price of electricity on the European market has decreased significantly and thereby the competitiveness and profitability of the Swiss hydropower firms has deteriorated. With one possibility to improve the sector’s competitiveness being an increase in the firms’ level of cost efficiency, the goal of this study is to quantify the firms’ level of persistent and transient cost efficiency using the generalized true random effects (GTRE) model introduced by Colombi et al. (2014) and Filippini and Greene (2015). Applying this newly developed GTRE model to a total cost function, the level of cost efficiency of 65 Swiss hydropower firms is analyzed for the period between 2000 and 2013. For comparison, a true random effects (TRE) specification is estimated alongside, serving as a benchmark for the transient level of cost efficiency. The results of the GTRE model show the presence of persistent as well as transient cost inefficiency. The existing level of persistent inefficiency could hinder the hydropower firms from reacting flexibly to new market environments.
Related Links	https://dspace.mit.edu/bitstream/1721.1/113645/1/11123_2017_Article_522.pdf https://papers.ssrn.com/sol3/Delivery.cfm?abstractid=2791525
ISSN	10914358
e-ISSN	15565068
DOI	10.2139/ssrn.2791525
Journal	SSRN Electronic Journal
Language	English
Publisher	Elsevier BV
Publisher Date	2016-11-16
Access Restriction	Open
Subject Keyword	Journal: SSRN Electronic Journal Agricultural Economics Efficiency Measurement Stochastic Frontier Analysis Persistent and Transient Cost Efficiency
Content Type	Text
Resource Type	Article
Subject	Public Health, Environmental and Occupational Health Psychiatry and Mental Health

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