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

Almas Heshmati, Subal C. Kumbhakar, Kai Sun

Research output: Contribution to conferenceAbstract

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 compare 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 implication for generation policy in Korea as outlined in this study.
Original languageEnglish
Publication statusPublished - 10 Mar 2013
Event13th European Workshop on Efficiency and Productivity Analysis - Helsinki, Finland
Duration: 17 Jun 201320 Jun 2013

Conference

Conference13th European Workshop on Efficiency and Productivity Analysis
Abbreviated titleEWEPA'13
CountryFinland
CityHelsinki
Period17/06/1320/06/13

Fingerprint

Electric power
Power plant
Coefficients
Productivity
Generator
Factors
Specification test
Covariates
Power generation
Korea

Keywords

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

Cite this

Heshmati, A., Kumbhakar, S. C., & Sun, K. (2013). Estimation of productivity in Korean electric power plants: a semiparametric smooth coefficient model. Abstract from 13th European Workshop on Efficiency and Productivity Analysis, Helsinki, Finland.
Heshmati, Almas ; Kumbhakar, Subal C. ; Sun, Kai. / Estimation of productivity in Korean electric power plants : a semiparametric smooth coefficient model. Abstract from 13th European Workshop on Efficiency and Productivity Analysis, Helsinki, Finland.
@conference{91eed072f6bb419ba227bba3d697b7f4,
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 compare 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 implication for generation policy in Korea as outlined in this study.",
keywords = "semiparametric estimation, smooth varying-coefficient model, electricity generation, generator level panel data",
author = "Almas Heshmati and Kumbhakar, {Subal C.} and Kai Sun",
year = "2013",
month = "3",
day = "10",
language = "English",
note = "13th European Workshop on Efficiency and Productivity Analysis, EWEPA'13 ; Conference date: 17-06-2013 Through 20-06-2013",

}

Heshmati, A, Kumbhakar, SC & Sun, K 2013, 'Estimation of productivity in Korean electric power plants: a semiparametric smooth coefficient model', 13th European Workshop on Efficiency and Productivity Analysis, Helsinki, Finland, 17/06/13 - 20/06/13.

Estimation of productivity in Korean electric power plants : a semiparametric smooth coefficient model. / Heshmati, Almas; Kumbhakar, Subal C.; Sun, Kai.

2013. Abstract from 13th European Workshop on Efficiency and Productivity Analysis, Helsinki, Finland.

Research output: Contribution to conferenceAbstract

TY - CONF

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

PY - 2013/3/10

Y1 - 2013/3/10

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 compare 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 implication 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 compare 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 implication for generation policy in Korea as outlined in this study.

KW - semiparametric estimation

KW - smooth varying-coefficient model

KW - electricity generation

KW - generator level panel data

M3 - Abstract

ER -

Heshmati A, Kumbhakar SC, Sun K. Estimation of productivity in Korean electric power plants: a semiparametric smooth coefficient model. 2013. Abstract from 13th European Workshop on Efficiency and Productivity Analysis, Helsinki, Finland.