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dc.creatorYoung, Andrew T. 
dc.creatorZuleta, Hernando 
dc.creatorGarcia-Suaza, Andres 
dc.date.accessioned2015-10-06T12:59:29Z
dc.date.available2015-10-06T12:59:29Z
dc.date.created2010-03
dc.date.issued2010
dc.identifier.urihttp://repository.urosario.edu.co/handle/10336/10974
dc.descriptionWe use annual data on capital’s share and relative factor prices from 35 US industries from 1960 to 2005 to test the induced innovation hypothesis. We derive, from a production function framework, testable implications for the effect of contemporaneous and lagged factor price ratios on capital’s share of production. The predicted effect is positive or negative depending on the elasticity of substitution between labor and capital. From panel regressions, the estimated effect of the contemporaneous factor price ratio implies an elasticity of substitution that is less than unity, consistent with the consensus from the literature. Based on this, our negative estimated effects for lagged price ratios are both statistically significant and consistent with the induced innovation hypothesis.
dc.format.extent26 páginas
dc.format.mediumRecurso electrónico
dc.format.mimetypeapplication/pdf
dc.language.isoeng
dc.relation.ispartofSerie Documentos de trabajo ; No. 80
dc.relation.isversionof1
dc.relation.urihttps://ideas.repec.org/p/col/000092/006740.html
dc.sourceinstname:Universidad del Rosario
dc.sourcereponame:Repositorio Institucional EdocUR
dc.sourceinstname:Universidad del Rosario
dc.subjectInduced innovation
dc.subjectBiased technical change
dc.subjectCapital’s share
dc.subjectLabor’s share
dc.subjectElasticity of substitution
dc.subject.ddcProducción 
dc.subject.lembInnovaciones tecnológicas::Aspectos Económicos
dc.subject.lembDesarrollo económico
dc.subject.lembProductividad industrial
dc.subject.lembProductividad de capital
dc.subject.lembProductividad del trabajo
dc.titleEvidence of induced innovation in US Sectoral Capital’s Shares
dc.typeworkingPaper
dc.publisherUniversidad del Rosario
dc.publisher.departmentFacultad de Economía
dc.identifier.editorial1
dc.rights.accesRightsinfo:eu-repo/semantics/openAccess
dc.type.spaDocumento de trabajo
dc.rights.accesoAbierto (Texto completo)
dc.type.hasVersioninfo:eu-repo/semantics/acceptedVersion
dc.format.tipoDocumento
dc.rights.ccAtribución-NoComercial-SinDerivadas 2.5 Colombia


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