micEcon (version 0.6-12)

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:

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.

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 )