演講者簡介 : Prof. Tai-Hsin Huang 為Ph.D. in Economics, State University of New York at Stony Brook(1988)。
現為政治大學金融系教授。
其主要研究領域為計量經濟學、個體經濟學、勞動經濟學及效率與生產力分析 。
演講摘要 : This paper aims to provide the theoretical underpinning of the dynamic efficiency model pioneered by Ahn et al. (2000). In the context of a quadratic loss function, this paper formulates a multi-period forward-looking rational expectations model in place of their backward-looking adaptive expectations specification on the evolution of the technical inefficiency level, which correctly results in a dynamic panel data model. The model is justified to be economically meaningful, especially from the viewpoint of a cost function and a profit function. This paper illustrates the model on panel data of 112 French banks and finds encouraging evidence of superiority in favor of the model. Substantial cost inefficiency prevails in this industry, where the constituent banks are characterized as having volatile adjustment speeds toward their long-run stead states. The sample banks exhibit increasing returns to scale and product-mix economies.
