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Shifting the Bias: How to Disentangle Creative Adoption from Radical Innovation. Empirical Evidence from Italy and the US

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Abstract

The standard measures of total factor productivity growth assume the neutrality of technological change. When technological change is biased, the matching between tbc factor intensity and the relative factor prices has powerful effects on total factor productivity. This paper presents a novel methodology able to take into account the effects of biased technological change and provides empirical evidence for tbc Italian and tbc US economies in the period 1980-2000.

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  • Antonelli, Cristiano & Quatraro, Francesco, 2007. "Shifting the Bias: How to Disentangle Creative Adoption from Radical Innovation. Empirical Evidence from Italy and the US," Department of Economics and Statistics Cognetti de Martiis LEI & BRICK - Laboratory of Economics of Innovation "Franco Momigliano", Bureau of Research in Innovation, Complexity and Knowledge, Collegio 200706, University of Turin.
    • Handle: RePEc:uto:labeco:200706
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    1. Mokyr, Joel, 1990. "Punctuated Equilibria and Technological Progress," American Economic Review, American Economic Association, vol. 80(2), pages 350-354, May.
    2. Shunsuke Managi & David Karemera, 2004. "Input and output biased technological change in US agriculture," Applied Economics Letters, Taylor & Francis Journals, vol. 11(5), pages 283-286.
    3. Bernard, Andrew B & Jones, Charles I, 1996. "Comparing Apples to Oranges: Productivity Convergence and Measurement across Industries and Countries," American Economic Review, American Economic Association, vol. 86(5), pages 1216-1238, December.
    4. Paul A. David, 2005. "The Tale of Two Traverses: Innovation and Accumulation in the First Two Centuries of U.S. Economic Growth," Discussion Papers 05-022, Stanford Institute for Economic Policy Research.
    5. Francesco Quatraro, 2007. "Change vs. decline: A comparative analysis of the evolution of TFP in Italian regions, with a particular attention to the case of Turin," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 54(1), pages 86-105, March.
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    1. Antonelli, Cristiano & Quatraro, Francesco, 2007. "Directed Technological Change and Total Factor Productivity. Effects and Determinants in a Sample of OECD Countries, 1971 – 2001," Department of Economics and Statistics Cognetti de Martiis LEI & BRICK - Laboratory of Economics of Innovation "Franco Momigliano", Bureau of Research in Innovation, Complexity and Knowledge, Collegio 200711, University of Turin.

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