Time Series Analysis of Deregulatory Dynamics and Technical Efficiency: The Case of the U.S. Airline Industry
构建方法检验竞争压力是否提升效率，利用1970-1990年美国航空业季度面板数据，通过协整和收敛分析发现航空公司间存在长期关系且绩效差异随时间缩小。
As markets worldwide become less regulated, it becomes increasingly possible and timely to establish the presence of an empirical relationship between technical efficiency and market forces compelling agents to economize. This article, taking an innovative approach to test the hypothesis that competitive pressure enhances efficiency, constructs a methodology to examine time series of technical efficiency indices for cointegration and convergence. A panel of U.S. airlines, observed quarterly between 1970 and 1990, is used as a case study. Cointegration results are suggestive of long‐run relationships between carriers; furthermore, convergence tests document less dispersion in firm performance over time.