The study estimates efficiency magnitudes by applying LPP technic and compare them with their Stochastic Counterparts. The proposed study combines timeseries, cross section observations on Inputs, Input prices, outputs, derives factor minimal cost functions and formulates the Likelihood functions and maximise them to find MLEs of known parameters. This kind of research study can be further extended to any other functional forms like CES and TRANSLOG production functions etc., with comfortable ease.

Measurement of technical progress dates back to Solow (1957) who expressed technical change as residual, obtained by subtracting weighed input growth from output growth. There were studies of measuring technical change based on factor minimal cost function, assuming technical change is Hicks neutral, producer was at equilibrium. There existed studies which assumed technical change was non-neutral. The present study assumed technical change is Hicks neutral. To measure technical change input-output quantities alone can be used; or input-output quantities and their prices can be utilized; or...

In the present book Chapter - I is an introductory one. It contains the general introduction about the problem of distributed lag models. Chapter - II deals with the specification of the distributed lag models through expectations models.Chapter - III describes the estimation methods for different finite distributed lag models existing in the literature.Chapter - IV gives the details about the various infinite distributed lag models existing in the literature along with the estimation of their parameters.Chapter - V develops a new estimation procedure for a finite distributed lag model by...

Technical change and its measurement is a fascinating subject. The various procedures to measure technical change fall into two categories (i).The parametric approach and (ii). The non-parametric approach. In theformer case, a parametric production function is postulated a priori, using it as basic tool, technical change is estimated. The present book aims at presenting a method to measure technicalprogress relaxing the assumptions of full profit efficiency and constant returns to scale. The method is essentially non-parametric, in which wesolve a number of linear programming problems, first...