| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w7079 |
| 来源ID | Working Paper 7079 |
| Dynamic Factor Demand Models and Productivity Analysis | |
| M. Ishaq Nadiri; Ingmar R. Prucha | |
| 发表日期 | 1999-04-01 |
| 出版年 | 1999 |
| 语种 | 英语 |
| 摘要 | In this paper we discuss recent advances in modeling and estimating dynamic factor demand models, and review the use of such models in analyzing the production structure, the determinants of variable and quasi-fixed factors, and productivity growth. The paper also discusses the traditional approach to productivity analysis based on the Divisia index number methodology. Both approaches may be seen as being complementary. The conventional index number approach will measure the rate of technical change correctly if certain assumptions about the underlying technology of the firm and output and input markets hold. The approach is appealing in that it can be easily implemented. However, if the underlying assumptions do not hold, then the conventional index number approach will, in general, yield biased estimates of technical change. The econometric approach based on general dynamic factor demand models allows for a careful testing of various features of a postulated model. Furthermore it not only provides a framework to estimate technical change, but can also yield a rich set of critical information on the structure of production, the dynamics of investment in physical and R&D capital, the effects of spillovers, the depreciation rate of capital, the impact of taxes, expectations, etc. The paper provides both a review of recent methodology developed for the specification and estimation of dynamic factor demand models, as well as a review of recent applications. The paper also explores in terms of a Monte Carlo study how estimates of important characteristics of the production process can be affected by model misspecification. The study suggests that characteristics of the production structure such as scale and technical change are sensitive to model misspecification, and that adopting a simple specification for reasons of convenience may result in serious biases. |
| 主题 | Econometrics ; Estimation Methods ; Microeconomics ; Households and Firms |
| URL | https://www.nber.org/papers/w7079 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/564605 |
| 推荐引用方式 GB/T 7714 | M. Ishaq Nadiri,Ingmar R. Prucha. Dynamic Factor Demand Models and Productivity Analysis. 1999. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w7079.pdf（4819KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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