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Decomposing Technical Change

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  • Byong-Hyong Bahk
  • Michael Gort
  • Richard A Wall
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    Abstract

    A production function is specified with human capital as a separate argument and with embodied technical change proxied by a variable that measures the average vintage of the stock of capital. The coefficients of this production function are estimated with cross section data for roughly 2,150 new manufacturing plants in 41 industries, and for subsets of this sample. The question of interactions between new investment and initial endowments of capital is then examined with data for roughly 1,400 old plants in 15 industries.

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    File URL: ftp://ftp2.census.gov/ces/wp/1991/CES-WP-91-04.pdf
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    Bibliographic Info

    Paper provided by Center for Economic Studies, U.S. Census Bureau in its series Working Papers with number 91-4.

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    Date of creation: May 1991
    Date of revision:
    Handle: RePEc:cen:wpaper:91-4

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    Related research

    Keywords: CES; economic; research; micro; data; microdata; chief; economist;

    References

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    1. Michael Gort & Raford Boddy, 1967. "Vintage Effects and the Time Path of Investment in Production Relations," NBER Chapters, in: The Theory and Empirical Analysis of Production, pages 395-430 National Bureau of Economic Research, Inc.
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    Cited by:
    1. Byong-Hyong Bahk & Michael Gort, 1992. "Decomposing Learning By Doing in New Plants," Working Papers 92-16, Center for Economic Studies, U.S. Census Bureau.
    2. Edward Feser, 2004. "A Flexible Test for Agglomeration Economies in Two U.S. Manufacturing Industries," Working Papers 04-14, Center for Economic Studies, U.S. Census Bureau.

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