Estimation of productivity in Korean electric power plants: a semiparametric smooth coefficient model

Almas Heshmati; Subal C. Kumbhakar; Kai Sun

doi:10.1016/j.eneco.2014.08.019

Estimation of productivity in Korean electric power plants: a semiparametric smooth coefficient model

Almas Heshmati^*, Subal C. Kumbhakar, Kai Sun

^*Corresponding author for this work

Research output: Contribution to journal › Article › peer-review

Abstract

This paper analyzes the impact of load factor, facility and generator types on the productivity of Korean electric power plants. In order to capture important differences in the effect of load policy on power output, we use a semiparametric smooth coefficient (SPSC) model that allows us to model heterogeneous performances across power plants and over time by allowing underlying technologies to be heterogeneous. The SPSC model accommodates both continuous and discrete covariates. Various specification tests are conducted to assess the performance of the SPSC model. Using a unique generator level panel dataset spanning the period 1995-2006, we find that the impact of load factor, generator and facility types on power generation varies substantially in terms of magnitude and significance across different plant characteristics. The results have strong implications for generation policy in Korea as outlined in this study.

Original language	English
Pages (from-to)	491-500
Number of pages	10
Journal	Energy Economics
Volume	45
Early online date	28 Aug 2014
DOIs	https://doi.org/10.1016/j.eneco.2014.08.019
Publication status	Published - Sept 2014

Bibliographical note

Supplementary data: http://dx.doi.org/10.1016/j.eneco.2014.08.019

Keywords

electricity generation
generator level panel data
semiparametric estimation
smooth varying coefficient model

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10.1016/j.eneco.2014.08.019

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title = "Estimation of productivity in Korean electric power plants: a semiparametric smooth coefficient model",

abstract = "This paper analyzes the impact of load factor, facility and generator types on the productivity of Korean electric power plants. In order to capture important differences in the effect of load policy on power output, we use a semiparametric smooth coefficient (SPSC) model that allows us to model heterogeneous performances across power plants and over time by allowing underlying technologies to be heterogeneous. The SPSC model accommodates both continuous and discrete covariates. Various specification tests are conducted to assess the performance of the SPSC model. Using a unique generator level panel dataset spanning the period 1995-2006, we find that the impact of load factor, generator and facility types on power generation varies substantially in terms of magnitude and significance across different plant characteristics. The results have strong implications for generation policy in Korea as outlined in this study.",

keywords = "electricity generation, generator level panel data, semiparametric estimation, smooth varying coefficient model",

author = "Almas Heshmati and Kumbhakar, {Subal C.} and Kai Sun",

note = "Supplementary data: http://dx.doi.org/10.1016/j.eneco.2014.08.019 ",

year = "2014",

month = sep,

doi = "10.1016/j.eneco.2014.08.019",

language = "English",

volume = "45",

pages = "491--500",

journal = "Energy Economics",

issn = "0140-9883",

publisher = "Elsevier",

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TY - JOUR

T1 - Estimation of productivity in Korean electric power plants

T2 - a semiparametric smooth coefficient model

AU - Heshmati, Almas

AU - Kumbhakar, Subal C.

AU - Sun, Kai

N1 - Supplementary data: http://dx.doi.org/10.1016/j.eneco.2014.08.019

PY - 2014/9

Y1 - 2014/9

N2 - This paper analyzes the impact of load factor, facility and generator types on the productivity of Korean electric power plants. In order to capture important differences in the effect of load policy on power output, we use a semiparametric smooth coefficient (SPSC) model that allows us to model heterogeneous performances across power plants and over time by allowing underlying technologies to be heterogeneous. The SPSC model accommodates both continuous and discrete covariates. Various specification tests are conducted to assess the performance of the SPSC model. Using a unique generator level panel dataset spanning the period 1995-2006, we find that the impact of load factor, generator and facility types on power generation varies substantially in terms of magnitude and significance across different plant characteristics. The results have strong implications for generation policy in Korea as outlined in this study.

AB - This paper analyzes the impact of load factor, facility and generator types on the productivity of Korean electric power plants. In order to capture important differences in the effect of load policy on power output, we use a semiparametric smooth coefficient (SPSC) model that allows us to model heterogeneous performances across power plants and over time by allowing underlying technologies to be heterogeneous. The SPSC model accommodates both continuous and discrete covariates. Various specification tests are conducted to assess the performance of the SPSC model. Using a unique generator level panel dataset spanning the period 1995-2006, we find that the impact of load factor, generator and facility types on power generation varies substantially in terms of magnitude and significance across different plant characteristics. The results have strong implications for generation policy in Korea as outlined in this study.

KW - electricity generation

KW - generator level panel data

KW - semiparametric estimation

KW - smooth varying coefficient model

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U2 - 10.1016/j.eneco.2014.08.019

DO - 10.1016/j.eneco.2014.08.019

M3 - Article

AN - SCOPUS:84907812186

SN - 0140-9883

VL - 45

SP - 491

EP - 500

JO - Energy Economics

JF - Energy Economics

ER -

Estimation of productivity in Korean electric power plants: a semiparametric smooth coefficient model

Abstract

Bibliographical note

Keywords

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