Local versus Global Separability in Agricultural Household Models: The Factor Price Equalization Effect of Land Transfer Rights
指出，当市场失灵对不同家庭约束不同时，常用的全局可分性检验在理论上不适用。利用中国面板数据，模拟最大似然估计支持局部可分性检验，并发现更自由的土地流转权会促进影子要素价格均等化，提高配置效率。
Abstract Commonly employed global tests for separability between production and consumption decisions are theoretically inappropriate when the market failures creating non‐separabilities differentially constrain some, but not all households. Simulated maximum likelihood estimates using Chinese panel data reject the restrictions implied by a global separability test in favor of regime‐specific or local separability tests. The estimates also show that a global approach to separability obscures the significant effect that less‐encumbered land transfer rights would have on shadow factor price equalization across households and allocative efficiency. The findings on transfer rights suggest a resolution to the debate in China on further property rights reform.