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<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Strict//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-strict.dtd"> <html xmlns="http://www.w3.org/1999/xhtml" lang="en-us" xml:lang="en-us"> <head> <title>nep-eff 2025-04-07 papers</title> <meta http-equiv="Content-type" content="text/html; charset=utf-8" /> <meta name="viewport" content="width=device-width, initial-scale=1.0, maximum-scale=1" /> <meta name="format-detection" content="telephone=no" /> <link rel="stylesheet" title="default" type="text/css" href="/css" /> </head> <body> <table id="riban_table"> <tr> <td class="riban"> <table id="riban_left_table"> <tr> <td align="left" width="50%" valign="middle"> <a class="intlink" id="report_link_in_riban_table" href="https://nep.repec.org/nep-eff">nep-eff</a></td> <td align="right" valign="middle" width="50%" id="issue_service_name_td"> <a class="intlink" id="service_link_in_riban_table" href="https://nep.repec.org/">New Economics Papers</a> </td> </tr> </table> </td> <td class="riban" width="64%"> on Efficiency and Productivity</td></tr></table> <table width="100%" id="snake_table"> <tr> <td id="edition_column" width="36%"> <div>Issue of 2025–04–07<br /> seven papers chosen by<br /> <a class="ext" href="http://econpapers.repec.org/RAS/pza49.htm">Angelo Zago</a>, <a class="ext" href="http://www.univr.it/">Universitàà degli Studi di Verona</a><br /><br /> </div> </td> <td id="repad_cell" width="64%"></td></tr></table> <hr /> <ol class="liblo_ol"> <li class="liblo_li"> <a target="_blank" class="indoc" href="#p1">Bayesian Nonparametric Inference in Bank Business Models with Transient and Persistent Cost Inefficiency</a> By <a target="_blank" class="trout" href="https://econpapers.repec.org/scripts/search.pf?ar=on&nep-eff&aus=Dimitris%20Korobilis">Dimitris Korobilis</a>; <a target="_blank" class="trout" href="https://econpapers.repec.org/scripts/search.pf?ar=on&nep-eff&aus=Emmanuel%20C.%20Mamatzakis">Emmanuel C. Mamatzakis</a>; <a target="_blank" class="trout" href="https://econpapers.repec.org/scripts/search.pf?ar=on&nep-eff&aus=Vasileios%20Pappas">Vasileios Pappas</a></li> <li class="liblo_li"> <a target="_blank" class="indoc" href="#p2">Productivity at its Highest at an Intermediate Intensity of Work from Home</a> By <a target="_blank" class="trout" href="https://econpapers.repec.org/scripts/search.pf?ar=on&nep-eff&aus=Kangasharju,%20Aki">Kangasharju, Aki</a>; <a target="_blank" class="trout" href="https://econpapers.repec.org/scripts/search.pf?ar=on&nep-eff&aus=Kauhanen,%20Antti">Kauhanen, Antti</a>; <a target="_blank" class="trout" href="https://econpapers.repec.org/scripts/search.pf?ar=on&nep-eff&aus=Pajarinen,%20Mika">Pajarinen, Mika</a>; <a target="_blank" class="trout" href="https://econpapers.repec.org/scripts/search.pf?ar=on&nep-eff&aus=Rouvinen,%20Petri">Rouvinen, Petri</a></li> <li class="liblo_li"> <a target="_blank" class="indoc" href="#p3">Incomplete Markets as Correlated Distortions</a> By <a target="_blank" class="trout" href="https://econpapers.repec.org/scripts/search.pf?ar=on&nep-eff&aus=Armangue-Jubert,%20Tristany">Armangue-Jubert, Tristany</a>; <a target="_blank" class="trout" href="https://econpapers.repec.org/scripts/search.pf?ar=on&nep-eff&aus=Pietrobon,%20Davide">Pietrobon, Davide</a>; <a target="_blank" class="trout" href="https://econpapers.repec.org/scripts/search.pf?ar=on&nep-eff&aus=Ruggieri,%20Alessandro">Ruggieri, Alessandro</a></li> <li class="liblo_li"> <a target="_blank" class="indoc" href="#p4">Managing Labor Costs and Maximizing Productivity</a> By <a target="_blank" class="trout" href="https://econpapers.repec.org/scripts/search.pf?ar=on&nep-eff&aus=International%20Finance%20Corporation">International Finance Corporation</a></li> <li class="liblo_li"> <a target="_blank" class="indoc" href="#p5">G20 Policy Recommendations for Advancing Financial Inclusion and Productivity Gains through Digital Public Infrastructure</a> By <a target="_blank" class="trout" href="https://econpapers.repec.org/scripts/search.pf?ar=on&nep-eff&aus=World%20Bank">World Bank</a></li> <li class="liblo_li"> <a target="_blank" class="indoc" href="#p6">Estimating Efficiency Levels of County Health Facilities in Kenya Pre and During COVID 19 Period using DEA Methodology</a> By <a target="_blank" class="trout" href="https://econpapers.repec.org/scripts/search.pf?ar=on&nep-eff&aus=Lutta,%20Paul">Lutta, Paul</a>; <a target="_blank" class="trout" href="https://econpapers.repec.org/scripts/search.pf?ar=on&nep-eff&aus=Munialo,%20Sussy">Munialo, Sussy</a>; <a target="_blank" class="trout" href="https://econpapers.repec.org/scripts/search.pf?ar=on&nep-eff&aus=Ngeno,%20Haron">Ngeno, Haron</a>; <a target="_blank" class="trout" href="https://econpapers.repec.org/scripts/search.pf?ar=on&nep-eff&aus=Muhonja,%20Faith">Muhonja, Faith</a></li> <li class="liblo_li"> <a target="_blank" class="indoc" href="#p7">The Container Port Performance Index 2022</a> By <a target="_blank" class="trout" href="https://econpapers.repec.org/scripts/search.pf?ar=on&nep-eff&aus=World%20Bank">World Bank</a></li></ol> <hr /> <ol class="coblo_ol"> <li class="coblo_li"> <div id="p1"> <a target="_blank" tabindex="-1" class="trout" href="https://econpapers.repec.org/RePEc:gla:glaewp:2025_02?ref=nep-eff">Bayesian Nonparametric Inference in Bank Business Models with Transient and Persistent Cost Inefficiency</a></div> <table class="basit"> <tr> <td style="width: 7em" class="fina">By:</td> <td class="fiva"> <a target="_blank" class="trout" href="https://econpapers.repec.org/scripts/search.pf?ar=on&nep-eff&aus=Dimitris%20Korobilis">Dimitris Korobilis</a>; <a target="_blank" class="trout" href="https://econpapers.repec.org/scripts/search.pf?ar=on&nep-eff&aus=Emmanuel%20C.%20Mamatzakis">Emmanuel C. Mamatzakis</a>; <a target="_blank" class="trout" href="https://econpapers.repec.org/scripts/search.pf?ar=on&nep-eff&aus=Vasileios%20Pappas">Vasileios Pappas</a></td></tr> <tr> <td style="width: 7em" class="fina">Abstract:</td> <td class="fiva">This paper introduces a novel econometric framework for identifying and modeling bank business models (BBMs), which dynamically evolve in response to changing f inancial and economic conditions. Building on the stochastic frontier literature, we extend the traditional cost-efficiency models by decomposing inefficiency into persistent and transient components. We propose a Bayesian nonparametric approach that adapts to the data through an infinite mixture model with predictor-dependent clustering, enabling a flexible classification of banks into distinct business models. Our method, based on the Logit Stick-Breaking Process (LSBP), provides a data-driven way to capture the heterogeneity in bank strategies, allowing for dynamic transitions between business models over time. This model offers a significant advancement over existing parametric and kernel-based approaches by combining the scalability of nonparametric methods with efficient computational routines. We apply the model to a dataset of European banks and identify four distinct business model clusters, providing novel insights into the evolution of bank performance and efficiency. Our findings contribute to the growing literature on the identification and measurement of bank business models, offering valuable implications for policy and regulatory frameworks</td></tr> <tr> <td style="width: 7em" class="fina">Keywords:</td> <td class="fiva">Stochastic Frontier Analysis; Bayesian Nonparametrics; Logit Stick-Breaking Process; Dynamic Clustering; Cost Efficiency</td></tr> <tr> <td style="width: 7em" class="fina">JEL:</td> <td class="fiva"> <a target="_blank" class="trout" href="https://econpapers.repec.org/scripts/search.pf?ar=on&nep-eff&jel=C11%20C14%20C23%20D24%20G21%20G28">C11 C14 C23 D24 G21 G28</a></td></tr> <tr> <td style="width: 7em" class="fina">Date:</td> <td class="fiva">2025–03</td></tr> <tr> <td style="width: 7em" class="fina">URL:</td> <td class="fiva"><a target="_blank" class="trout" href="https://d.repec.org/n?u=RePEc:gla:glaewp:2025_02&r=eff">https://d.repec.org/n?u=RePEc:gla:glaewp:2025_02</a></td></tr></table></li> <li class="coblo_li"> <div id="p2"> <a target="_blank" tabindex="-1" class="trout" href="https://econpapers.repec.org/RePEc:rif:briefs:154?ref=nep-eff">Productivity at its Highest at an Intermediate Intensity of Work from Home</a></div> <table class="basit"> <tr> <td style="width: 7em" class="fina">By:</td> <td class="fiva"> <a target="_blank" class="trout" href="https://econpapers.repec.org/scripts/search.pf?ar=on&nep-eff&aus=Kangasharju,%20Aki">Kangasharju, Aki</a>; <a target="_blank" class="trout" href="https://econpapers.repec.org/scripts/search.pf?ar=on&nep-eff&aus=Kauhanen,%20Antti">Kauhanen, Antti</a>; <a target="_blank" class="trout" href="https://econpapers.repec.org/scripts/search.pf?ar=on&nep-eff&aus=Pajarinen,%20Mika">Pajarinen, Mika</a>; <a target="_blank" class="trout" href="https://econpapers.repec.org/scripts/search.pf?ar=on&nep-eff&aus=Rouvinen,%20Petri">Rouvinen, Petri</a></td></tr> <tr> <td style="width: 7em" class="fina">Abstract:</td> <td class="fiva">Abstract We examine the relationship between remote work intensity and labor productivity using a survey of Finnish business leaders conducted in late 2024. The results show a positive but complex relationship between remote work and productivity, which is characterized by an inverted U-shape indicating that moderate levels of remote work are associated with the highest levels of productivity. Thus, a hybrid work model, combining on-site and remote work, is optimal for many companies. Management’s involvement in deciding the location of work and establishing clear remote work policies has an independent positive effect on productivity. The productivity effects of remote work are tied to companies’ and employees’ specific circumstances. Therefore, a company should not allow itself to fall into a random or accidental remote work situation. Instead, management and employees should continuously seek to optimize remote work arrangements for the long-term success of the company. At the very least, discussing the extent and ground rules of remote work should not be taboo.</td></tr> <tr> <td style="width: 7em" class="fina">Keywords:</td> <td class="fiva">Remote work, Work from home, Labor productivity, Finland, Firm-level analysis</td></tr> <tr> <td style="width: 7em" class="fina">JEL:</td> <td class="fiva"> <a target="_blank" class="trout" href="https://econpapers.repec.org/scripts/search.pf?ar=on&nep-eff&jel=D22%20J24%20J29%20M54">D22 J24 J29 M54</a></td></tr> <tr> <td style="width: 7em" class="fina">Date:</td> <td class="fiva">2025–03–20</td></tr> <tr> <td style="width: 7em" class="fina">URL:</td> <td class="fiva"><a target="_blank" class="trout" href="https://d.repec.org/n?u=RePEc:rif:briefs:154&r=eff">https://d.repec.org/n?u=RePEc:rif:briefs:154</a></td></tr></table></li> <li class="coblo_li"> <div id="p3"> <a target="_blank" tabindex="-1" class="trout" href="https://econpapers.repec.org/RePEc:hhs:lunewp:2025_002?ref=nep-eff">Incomplete Markets as Correlated Distortions</a></div> <table class="basit"> <tr> <td style="width: 7em" class="fina">By:</td> <td class="fiva"> <a target="_blank" class="trout" href="https://econpapers.repec.org/scripts/search.pf?ar=on&nep-eff&aus=Armangue-Jubert,%20Tristany">Armangue-Jubert, Tristany</a> (Universitat Autònoma de Barcelona and Barcelona School of Economics); <a target="_blank" class="trout" href="https://econpapers.repec.org/scripts/search.pf?ar=on&nep-eff&aus=Pietrobon,%20Davide">Pietrobon, Davide</a> (Department of Economics, Lund University); <a target="_blank" class="trout" href="https://econpapers.repec.org/scripts/search.pf?ar=on&nep-eff&aus=Ruggieri,%20Alessandro">Ruggieri, Alessandro</a> (CUNEF Universidad)</td></tr> <tr> <td style="width: 7em" class="fina">Abstract:</td> <td class="fiva">We argue that capital misallocation arises endogenously due to incomplete consumption insurance. We model risk-averse entrepreneurs with heterogeneous productivity who face idiosyncratic output shocks and choose how much capital to rent before uncertainty unfolds. We show that incomplete markets operate as correlated distortions, leading to a reallocation of capital from more to less productive firms relative to the complete markets benchmark. Using Portuguese administrative data, we document that capital misallocation is greater in locations and industries with higher output shock volatility, consistent with our framework. Leveraging the structure of the model, we show that completing insurance markets increases aggregate productivity and income by 64% and 97%, respectively.</td></tr> <tr> <td style="width: 7em" class="fina">Keywords:</td> <td class="fiva">Insurance; volatility; misallocation; distortions; efficiency.</td></tr> <tr> <td style="width: 7em" class="fina">JEL:</td> <td class="fiva"> <a target="_blank" class="trout" href="https://econpapers.repec.org/scripts/search.pf?ar=on&nep-eff&jel=D61%20E22%20L23%20L26">D61 E22 L23 L26</a></td></tr> <tr> <td style="width: 7em" class="fina">Date:</td> <td class="fiva">2025–02–26</td></tr> <tr> <td style="width: 7em" class="fina">URL:</td> <td class="fiva"><a target="_blank" class="trout" href="https://d.repec.org/n?u=RePEc:hhs:lunewp:2025_002&r=eff">https://d.repec.org/n?u=RePEc:hhs:lunewp:2025_002</a></td></tr></table></li> <li class="coblo_li"> <div id="p4"> <a target="_blank" tabindex="-1" class="trout" href="https://econpapers.repec.org/RePEc:wbk:wboper:40728?ref=nep-eff">Managing Labor Costs and Maximizing Productivity</a></div> <table class="basit"> <tr> <td style="width: 7em" class="fina">By:</td> <td class="fiva"> <a target="_blank" class="trout" href="https://econpapers.repec.org/scripts/search.pf?ar=on&nep-eff&aus=International%20Finance%20Corporation">International Finance Corporation</a></td></tr> <tr> <td style="width: 7em" class="fina">Keywords:</td> <td class="fiva">Poverty Reduction-Employment and Shared Growth Social Protections and Labor-Labor Markets Social Protections and Labor-Wages, Compensation & Benefits Finance and Financial Sector Development-Financial Literacy</td></tr> <tr> <td style="width: 7em" class="fina">Date:</td> <td class="fiva">2023–12</td></tr> <tr> <td style="width: 7em" class="fina">URL:</td> <td class="fiva"><a target="_blank" class="trout" href="https://d.repec.org/n?u=RePEc:wbk:wboper:40728&r=eff">https://d.repec.org/n?u=RePEc:wbk:wboper:40728</a></td></tr></table></li> <li class="coblo_li"> <div id="p5"> <a target="_blank" tabindex="-1" class="trout" href="https://econpapers.repec.org/RePEc:wbk:wboper:40421?ref=nep-eff">G20 Policy Recommendations for Advancing Financial Inclusion and Productivity Gains through Digital Public Infrastructure</a></div> <table class="basit"> <tr> <td style="width: 7em" class="fina">By:</td> <td class="fiva"> <a target="_blank" class="trout" href="https://econpapers.repec.org/scripts/search.pf?ar=on&nep-eff&aus=World%20Bank">World Bank</a></td></tr> <tr> <td style="width: 7em" class="fina">Keywords:</td> <td class="fiva">Finance and Financial Sector Development-Access to Finance Finance and Financial Sector Development-Financial Structures Finance and Financial Sector Development-Public & Municipal Finance Finance and Financial Sector Development-Payment Systems & Infrastructure</td></tr> <tr> <td style="width: 7em" class="fina">Date:</td> <td class="fiva">2023–10</td></tr> <tr> <td style="width: 7em" class="fina">URL:</td> <td class="fiva"><a target="_blank" class="trout" href="https://d.repec.org/n?u=RePEc:wbk:wboper:40421&r=eff">https://d.repec.org/n?u=RePEc:wbk:wboper:40421</a></td></tr></table></li> <li class="coblo_li"> <div id="p6"> <a target="_blank" tabindex="-1" class="trout" href="https://econpapers.repec.org/RePEc:aer:wpaper:918a51d6-ae4a-450b-9acb-1f28a6eff395?ref=nep-eff">Estimating Efficiency Levels of County Health Facilities in Kenya Pre and During COVID 19 Period using DEA Methodology</a></div> <table class="basit"> <tr> <td style="width: 7em" class="fina">By:</td> <td class="fiva"> <a target="_blank" class="trout" href="https://econpapers.repec.org/scripts/search.pf?ar=on&nep-eff&aus=Lutta,%20Paul">Lutta, Paul</a>; <a target="_blank" class="trout" href="https://econpapers.repec.org/scripts/search.pf?ar=on&nep-eff&aus=Munialo,%20Sussy">Munialo, Sussy</a>; <a target="_blank" class="trout" href="https://econpapers.repec.org/scripts/search.pf?ar=on&nep-eff&aus=Ngeno,%20Haron">Ngeno, Haron</a>; <a target="_blank" class="trout" href="https://econpapers.repec.org/scripts/search.pf?ar=on&nep-eff&aus=Muhonja,%20Faith">Muhonja, Faith</a></td></tr> <tr> <td style="width: 7em" class="fina">Abstract:</td> <td class="fiva">Health efficiency remains high before and after COVID-19. This could be attributed to devolved hospital management system which has brought public financial management services closer to the hospital and increased effectiveness in delivery of services. Similarly, there were also variations on health efficiency with some hospitals recording low and high efficiencies, which can also be attributed to hospital management.</td></tr> <tr> <td style="width: 7em" class="fina">Date:</td> <td class="fiva">2024–03–30</td></tr> <tr> <td style="width: 7em" class="fina">URL:</td> <td class="fiva"><a target="_blank" class="trout" href="https://d.repec.org/n?u=RePEc:aer:wpaper:918a51d6-ae4a-450b-9acb-1f28a6eff395&r=eff">https://d.repec.org/n?u=RePEc:aer:wpaper:918a51d6-ae4a-450b-9acb-1f28a6eff395</a></td></tr></table></li> <li class="coblo_li"> <div id="p7"> <a target="_blank" tabindex="-1" class="trout" href="https://econpapers.repec.org/RePEc:wbk:wboper:39824?ref=nep-eff">The Container Port Performance Index 2022</a></div> <table class="basit"> <tr> <td style="width: 7em" class="fina">By:</td> <td class="fiva"> <a target="_blank" class="trout" href="https://econpapers.repec.org/scripts/search.pf?ar=on&nep-eff&aus=World%20Bank">World Bank</a></td></tr> <tr> <td style="width: 7em" class="fina">Keywords:</td> <td class="fiva">Transport</td></tr> <tr> <td style="width: 7em" class="fina">Date:</td> <td class="fiva">2023–05</td></tr> <tr> <td style="width: 7em" class="fina">URL:</td> <td class="fiva"><a target="_blank" class="trout" href="https://d.repec.org/n?u=RePEc:wbk:wboper:39824&r=eff">https://d.repec.org/n?u=RePEc:wbk:wboper:39824</a></td></tr></table></li></ol> <hr /> <div class="aboutreport issuefooter">This nep-eff issue is ©2025 by <a class="ext" href="http://econpapers.repec.org/RAS/pza49.htm">Angelo Zago</a>. It is provided as is without any express or implied warranty. It may be freely redistributed in whole or in part for any purpose. If distributed in part, please include this notice.</div> <div class="aboutnep issuefooter">General information on the NEP project can be found at <a class="intlink" href="https://nep.repec.org/">https://nep.repec.org</a>. For comments please write to the director of NEP, <a class="extlink" href="http://novarese.org/">Marco Novarese</a> at <director@nep.repec.org>. 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