Research Papers

1. “A Hierarchical Panel Data Stochastic Frontier Model for the Estimation of Stochastic Metafrontiers,” (with C. Amsler, Y.Y. Chen and P. Schmidt), Empirical Economics, 2021, 60, pp. 353-363. (paper)
2. “A Stochastic Frontier Model with Endogenous Treatment Status and Mediator,” (with Y.T. Chen and Y.C. Hsu), Journal of Business and Economic Statistics, 2020, 38, pp.243-256. (paper; Stata code for demo (including a Jupyter Notebook); Stata code for Table 4 & 6.)
3. “Flexible Panel Stochastic Frontier Model with Serially Correlated Errors,” (with Y.F Huang and S. Luo), Economics Letters, 2018, 163, pp.55-58. (paper)
4. “The Effect of Loan-to-Value Ratio Policy on the Housing Market's Price and Credit Expansion in Taiwan” (in Chinese, with Tzu-Yu Lin and Nan-Kuang Chen), Quarterly Bulletin, Central Bank of the Republic of China (Taiwan), 2017, 39(3), pp.5-40. (paper)
5. “Nonparametric Estimation of the Determinants of Inefficiency,” (with Christopher F. Parmeter and Subal C. Kumbhakar), Journal of Productivity Analysis, 2017, 47(3), pp.205-221. (paper)
6. “The Communication Effect of Central Bank of Taiwan on Interest Rates and Exchange Rates,” (in Chinese, with Chi-Hung Kang and Nan-Kuang Chen), Taiwan Economic Review, 2017, 45(3), pp.421-452. (paper)
7. “The Role of Life Insurance in an Emerging Economy: Human Capital Protection, Assets Allocation, and Social Interaction,” (with Xiaojun Shi and Chunbing Xing), Journal of Banking & Finance, 2015, 50, pp.19-33. (paper)
8. “The Research Performance of Taiwan Economic Institutes over the Past Five Years – A Forward Looking Evaluation,” (in Chinese, with T.W. Tsaur, C.Y. Wu, and T.Y. Huang), Journal of Social Sciences and Philosophy, 2014, 26(4), pp.555-582. (paper)
9. “Consistent Estimation of the Fixed Effects Stochastic Frontier Model,” (with Yi-Yi Chen and Peter Schmidt), lead article in Journal of Econometrics, 2014, 181, pp.65-76. (paper; Stata code; Julia code; Ox code by Holtkamp and Brummer, see example hbest2.ox.)
10. “The Updated Ranking of Academic Journals in Economics” (in Chinese, with T.W. Tsaur, M.J. Lin, Y.T. Chen, J.J. Chang, and T.Y. Huang), Academia Economic Papers, 2013, 41(3), pp.327-361. (paper)
11. “A Bayesian Estimator for Stochastic Frontier Models with Errors in Variables” (with Sheng-Kai Chang and Yi-Yi Chen), lead article in Journal of Productivity Analysis, 2012, 38(1), pp.1-9. (paper)
12. “Centered-Residuals-Based Moment Tests for Stochastic Frontier Models” (with Yi-Ting Chen), Econometric Reviews, 2012, 31(6), pp.625-53. (paper; Stata code, Julia code)
13. “The Effects of Changes in Asset Prices on Private Consumption” (in Chinese, with Nan-Kuang Chen), Quarterly Bulletin, Central Bank of the Republic of China (Taiwan), 2011, 33(1), pp.7-40. (paper)
14. “Estimating Fixed-Effect Panel Stochastic Frontier Models by Model Transformation” (first author, with Chia-Wen Ho), Journal of Econometrics, 2010, 157 (2), pp.286-96. (paper, software: available in Stata, Julia, Matlab (by Kerry Du), and Ox (by Holtkamp and Brummer))
15. “Estimation of Technical Inefficiency in Production Frontier Models Using Cross-Sectional Data” (with Subal C. Kumbhakar), Indian Economic Review, 2010, 45(2), pp.7-77.
16. “Stochastic Frontier Models with Errors in Variables: a GMM Approach” (in Chinese, with Yi-Yi Chen), Taiwan Economic Review, 2009, 37 (1), pp.1-22. (paper, Gauss Code)
17. “The Cost Effects of Government-Subsidised Credit: Evidence from Farmers’ Credit Unions in Taiwan” (first author, with Ching-Cheng Chang and Po-Chi Chen), Journal of Agricultural Economics, 2008, 59 (1), pp.132-149. (paper from RePEc or from Wiley)
18. “Identifying the Demand and Supply Effects of Financial Crises on Bank Credit--Evidence from Taiwan” (first author, with Nan-Kuang Chen), Southern Economic Journal, 2008, 75 (1), pp.26-49. (paper from RePEc or from JSTOR)
19. “The Procyclical Leverage Effect of Collateral Value on Bank Loans – Evidence from the Transaction Data of Taiwan” (with Nan-Kuang Chen), Economic Inquiry, 2007, 45 (2), pp.395-406. (paper from RePEc or from Wiley)
20. “Stochastic Frontier Models,” invited article for The New Palgrave Dictionary of Economics, 2nd edition, Palgrave Macmillan, 2007. (paper)
21. “Pitfalls in the Estimation of Cost Function Ignoring Allocative Inefficiency: A Monte Carlo Analysis” (first author, with Subal C. Kumbhakar) lead article in Journal of Econometrics, 2006, 134, pp.317-340. (paper)
22. “Estimation of Technical and Allocative Inefficiency: A Primal System Approach” (with Subal C. Kumbhakar), Journal of Econometrics, 2006, 134, pp.419-440. (paper)
23. “Estimation of Growth Convergence Using a Stochastic Production Frontier Approach” (first author, with Subal C. Kumbhakar) Economics Letters, 2005, 88(3), pp.300-305. (paper, Stata code, Julia code)
24. “The Macro Impacts of Exchange Rate Movements of Taiwan,” (in Chinese), Quarterly Bulletin, Central Bank of the Republic of China (Taiwan), 2005, 27(1), pp.13-45. (paper)
25. “A Method of Moments Estimator for a Stochastic Frontier Model with Errors in Variables” (with Yi-Yi Chen), Economics Letters, 2004, 85(2), pp.221-228. (paper, Stata code)
26. “A Stochastic Frontier Analysis of Financing Constraints on Investment: The Case of Financial Liberalization in Taiwan,” Journal of Business and Economic Statistics, 2003, 21(3), pp.406-419. (paper from RePEc or from JSTOR, Stata code, Julia code)
27. “Heteroscedasticity and Non-Monotonic Efficiency Effects of a Stochastic Frontier Model,” Journal of Productivity Analysis, 2002, 18, pp.241-253. (paper, Stata code, Julia code)
28. “Nominal Data and the Production Smoothing Hypothesis,” Economics Letters, 2002, 76(2), pp.245-50. (paper)
29. “One-Step and Two-Step Estimation of the Effects of Exogenous Variables on Technical Efficiency Levels” (first author, with Peter Schmidt) Journal of Productivity Analysis, 2002, 18, pp.129-44. (paper, Stata code, Julia code)
30. “Exogenous Cash: Testing Financing Constraints on Inventory Investment Using Dynamic Panels with additional information from annual reports,” Quarterly Review of Economics and Finance, 2001, 42(4), pp.779-802. (paper)
31. “Production Smoothing when Bank Loan Supply Shifts - The Role of Variable Capacity Utilization,” Journal of Money, Credit, and Banking, 2001, 33(3), pp.749-66. (paper from RePEc or from JSTOR)
32. “An Optimal Personal Bankruptcy Procedure and Proposed Reforms” (with Michelle White), Journal of Legal Studies, 2000, 29(1), pp.255-286. (paper)
33. “Symmetrical Information and Credit Rationing: Graphical Demonstrations,” Financial Analysts Journal, 2000, 56 (2), pp.85-95. (paper)
34. “Measuring the Tobin's Q for Taiwanese Manufacturing Firms” (in Chinese), Academia Economic Papers, 2000, 28(2), pp.149-76. (paper, Stata code)