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Evidence of induced innovation in US Sectoral Capital’s Shares

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dc.creatorYoung, Andrew T.
dc.creatorZuleta, Hernando
dc.creatorGarcía Suaza, Andrés Felipe
dc.date.accessioned2015-10-06T12:59:29Z
dc.date.available2015-10-06T12:59:29Z
dc.date.created2010-03
dc.date.issued2010
dc.description.abstractWe 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.eng
dc.format.extent26 páginasspa
dc.format.mediumRecurso electrónicospa
dc.format.mimetypeapplication/pdf
dc.format.tipoDocumentospa
dc.identifier.doihttps://doi.org/10.48713/10336_10974
dc.identifier.editorial1spa
dc.identifier.urihttp://repository.urosario.edu.co/handle/10336/10974
dc.language.isoeng
dc.publisherUniversidad del Rosariospa
dc.publisher.departmentFacultad de Economíaspa
dc.relation.citationIssueNo. 80
dc.relation.citationTitleSerie Documentos de trabajo. Economía
dc.relation.ispartofSerie Documentos de trabajo ; No. 80spa
dc.relation.isversionof1spa
dc.relation.urihttps://ideas.repec.org/p/col/000092/006740.html
dc.rights.accesRightsinfo:eu-repo/semantics/openAccess
dc.rights.accesoAbierto (Texto completo)spa
dc.rights.ccAtribución-NoComercial-SinDerivadas 2.5 Colombiaspa
dc.source.instnameinstname:Universidad del Rosariospa
dc.source.instnameinstname:Universidad del Rosariospa
dc.source.reponamereponame:Repositorio Institucional EdocURspa
dc.subjectInduced innovationspa
dc.subjectBiased technical changespa
dc.subjectCapital’s sharespa
dc.subjectLabor’s sharespa
dc.subjectElasticity of substitutionspa
dc.subject.ddcProducción
dc.subject.lembInnovaciones tecnológicas::Aspectos Económicosspa
dc.subject.lembDesarrollo económicospa
dc.subject.lembProductividad industrialspa
dc.subject.lembProductividad de capitalspa
dc.subject.lembProductividad del trabajospa
dc.titleEvidence of induced innovation in US Sectoral Capital’s Sharesspa
dc.typeworkingPapereng
dc.type.hasVersioninfo:eu-repo/semantics/acceptedVersion
dc.type.spaDocumento de trabajospa
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