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|
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- James Kirkley & Catherine Morrison Paul & Stephen Cunningham & Joseph Catanzano, 2004. "Embodied and Disembodied Technical Change in Fisheries: An Analysis of the Sète Trawl Fishery, 1985–1999," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 29(2), pages 191-217, October.
- 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.
- 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.
- Jin, Di & Thunberg, Eric & Kite-Powell, Hauke & Blake, Kevin, 2002. "Total Factor Productivity Change in the New England Groundfish Fishery: 1964-1993," Journal of Environmental Economics and Management, Elsevier, vol. 44(3), pages 540-556, November.
- Sucarrat, Genaro, 2009.
"Econometric reduction theory and philosophy,"
UC3M Working papers. Economics
we091005, Universidad Carlos III de Madrid. Departamento de Economía.
- Hendry, David F., 1995. "Dynamic Econometrics," OUP Catalogue, Oxford University Press, number 9780198283164.
- Dale Squires, 1992. "Productivity Measurement in Common Property Resource Industries: An Application to the Pacific Coast Trawl Fishery," RAND Journal of Economics, The RAND Corporation, vol. 23(2), pages 221-236, Summer.
- Hannesson, Rognvaldur, 2007. "Growth accounting in a fishery," Journal of Environmental Economics and Management, Elsevier, vol. 53(3), pages 364-376, May.
- Streibel, Mariane & Harvey, Andrew, 1993. "Estimation of simultaneous equation models with stochastic trend components," Journal of Economic Dynamics and Control, Elsevier, vol. 17(1-2), pages 263-287.
- Slade, Margaret E., 1989. "Modelling stochastic and cyclical components of technical change : An application of the Kalman filter," Journal of Econometrics, Elsevier, vol. 41(3), pages 363-383, July.
- Dale Squires & Niels Vestergaard, 2013. "Technical Change and The Commons," The Review of Economics and Statistics, MIT Press, vol. 95(5), pages 1769-1787, December.
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