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Intertemporal Budgeting and Efficiency

Author

Listed:
  • Shawna Grosskopf

    (Southern Illinois Univ. at Carbondale)

  • Rolf Fare

    (Southern Illinois Univ. at Carbondale)

  • Suthathip Yaisawarng

    (Union College)

Abstract

This paper introduces an intertemporal variable cost indirect technology which permits technological change over time, as well as allowing for intertemporal financial flexibility. It characterizes firms or agencies which maximize outputs or services subject to a budget constraint. We define intertemporal Farrell-type output oriented technical efficiency under several different financial regimes, as well as efficiency gains from financial flexibility. An empirical illustration is included based on a sample of Illinois municipalities.

Suggested Citation

  • Shawna Grosskopf & Rolf Fare & Suthathip Yaisawarng, 1995. "Intertemporal Budgeting and Efficiency," GE, Growth, Math methods 9503001, University Library of Munich, Germany.
    • Handle: RePEc:wpa:wuwpge:9503001
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    References listed on IDEAS

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    1. Fare, R. & Grosskopf, S. & Lovell, C. A. K., 1988. "An indirect approach to the evaluation of producer performance," Journal of Public Economics, Elsevier, vol. 37(1), pages 71-89, October.
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    More about this item

    JEL classification:

    • C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
    • D5 - Microeconomics - - General Equilibrium and Disequilibrium
    • D9 - Microeconomics - - Micro-Based Behavioral Economics

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