PRODUCTION COST-STRUCTURE OF UNITED-STATES HOSPITAL PHARMACIES - TIME-SERIES, CROSS-SECTIONAL BED SIZE EVIDENCE

被引:11
作者
OKUNADE, AA
机构
[1] Dept. of Economics, Memphis State University, Memphis, Tennessee
关键词
D O I
10.1002/jae.3950080304
中图分类号
F [经济];
学科分类号
02 ;
摘要
There are current concerns about potential factor substitutions and their implications for factor employments and cost containment in US hospital pharmacies. A translog production cost model is estimated for these pharmacies, using 1981-9 times-series data consisting of seven cross-sectional bed size classes per year. Zellner's joint GLS estimation of three-factor cost share equations and the parent translog cost function reveals that pairwise factor substitutions are severely limited; production is non-homothetic, occurring in the range of scale diseconomies; biased and pure technical change effects dominate the scale-augmenting component. Implications of findings are rationalized in the context of the emerging biopharmaceutical technologies.
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页码:277 / 294
页数:18
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