Technological Change in Renewable Resource Industries: An Alternative Estimation Approach
AbstractI set forth a generalized stochastic time trend approach, based upon the Kalman filter, as an alternative to the general index approach to measure technological change. Technology is treated as a latent variable in a state-space model of the production function. In data sparse settings, where panel data are unavailable, the method provides results which encompass insights from the general index approach, but provides more detailed estimates. I revisit an analysis of technological change in the Lofoten fishery. The estimated technology time profiles agree to some extent between the methods, but my more detailed results demand a new historical interpretation.
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Bibliographic InfoPaper provided by Department of Business and Management Science, Norwegian School of Economics in its series Discussion Papers with number 2012/14.
Length: 26 pages
Date of creation: 21 Dec 2012
Date of revision:
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More information through EDIRC
Renewable Resource Industries; Kalman Filter; Technological Change;
Find related papers by JEL classification:
- C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models &bull Diffusion Processes
- O33 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
- Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-06-16 (All new papers)
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