Technological Change in Renewable Resource Industries: An Alternative Estimation Approach
I 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.
|Date of creation:||21 Dec 2012|
|Date of revision:|
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UC3M Working papers. Economics
we091005, Universidad Carlos III de Madrid. Departamento de Economía.
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- Kevin J. Fox & R. Quentin Grafton & James Kirkley & Dale Squires, 2002.
"Property Rights in a Fishery: Regulatory Change and Firm Performance,"
Economics and Environment Network Working Papers
0205, Australian National University, Economics and Environment Network.
- Fox, Kevin J. & Grafton, R. Quentin & Kirkley, James & Squires, Dale, 2003. "Property rights in a fishery: regulatory change and firm performance," Journal of Environmental Economics and Management, Elsevier, vol. 46(1), pages 156-177, July.
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