Decomposing Technical Change
May 1991
Working Paper Number:
CES-91-04
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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:
investment,
production,
econometric,
estimating,
growth,
earnings,
technical,
technological,
estimates production,
recession,
specialization,
expenditure,
investment productivity,
depreciation,
plant investment,
capital,
capital productivity,
valuation,
inventory
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Department of Commerce,
Internal Revenue Service,
American Statistical Association,
Longitudinal Research Database,
National Science Foundation,
Center for Economic Studies,
Cobb-Douglas,
New England County Metropolitan,
Bureau of Economic Analysis
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