translogCostEst: 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 plm.data).

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:
estthe object returned by lm or plm.
nExoglength of argument xNames.
nShifterlength of argument shifterNames.
residualsresiduals.
fittedfitted values.
coefvector of all coefficients.
coefCovcovariance matrix of all coefficients.
r2$R^2$ value.
r2baradjusted $R^2$ value.
nObsnumber of observations.
model.matrixthe model matrix.
callthe matched call.
cNameargument cName.
yNameargument yName.
pNamesargument pNames.
fNamesargument fNames.
shifterNamesargument shifterNames.
dataLoggedargument dataLogged.
homPriceargument homPrice.

Examples

Run this code

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 )

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