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Relating the knowledge production function to total factor productivity: an endogenous growth puzzle.
- Article from:
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IMF Staff Papers
- Article date:
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July 1, 2006
- Author:
- Abdih, Yasser; Joutz, Frederick
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Copyright informationCOPYRIGHT 2006 International Monetary Fund. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The knowledge production function is central to research and development-based growth models. This paper empirically investigates the knowledge production function and intertemporal spillover effects using cointegration techniques. Time-series evidence suggests there are two long-run cointegrating relationships. The first captures a long-run knowledge production function; the second captures a long-run positive relationship between total factor productivity (TFP) and the knowledge stock. The results indicate that strong intertemporal knowledge spillovers are present and that the long-run impact of the knowledge stock on TFP is small. This evidence is interpreted in light of existing ...
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aggregate production function
Dictionary of the Social Sciences;
Craig Calhoun;
8 words
...aggregate production function See production function .
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production function
Dictionary of the Social Sciences;
Craig Calhoun;
243 words
...production function Production is the act of transforming inputs (labor...the quantity of output of that good constitutes the production function. The production function has the general form Q = f ( L , K , … ) where...
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CES production function
Dictionary of the Social Sciences;
Craig Calhoun;
257 words
...CES production function Or constant elasticity of substitution production function. The CES function is a production function used to model the relationship between the quantity of inputs used to make a good (such as labor and capital) and...
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Grant Black, The Geography of Small Firm Innovation.(Book Review)
International Small Business Journal;
December 1, 2004 ;
Felzensztein, Christian;
787 words
......contributing to the understanding of a knowledge production function. Thereafter, according to Black, geographical...describes the empirical model, based on a knowledge production function, to evaluate the innovative activity. This...
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Using an empirically estimated production function for Major League...
American Economist;
September 22, 1997 ;
Woolway, Mark D.;
787 words
......paper empirically estimates the production function, in a Cobb-Douglas format, of Major...analysis. A reliable estimate of the production function could assist the management of a...manufacturing firm could use its production function to determine how much of each input...
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Fire sprinkler CADD and engineering economics: could CADD systems replace...
PM Engineer;
September 1, 2004 ;
Wong, Sang H.;
787 words
......that CADD will have on the design production function. Some see CADD as a nefarious conspiracy...engineering economic model known as the production function. Its success depends as much on...the fire sprinkler designer. The Production Function and Economies of Scale A ...
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Cobb-Douglas function
A Dictionary of Economics;
JOHN BLACK;
216 words
......model of the aggregate production function . In this function...The Cobb-Douglas production function has also been applied...individual firm. With this production function, a cost-minimizing firm...
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"A THEORY OF PRODUCTION"1: THE ESTIMATION OF THE COBB-DOUGLAS FUNCTION: A...
Eastern Economic Journal;
July 1, 2005 ;
Felipe, Jesus; Adams, F Gerard;
787 words
......the existence of the aggregate production function] had Paul Douglas found labor's...significance of the Cobb-Douglas production function and the associated marginal productivities...what is believed to be an aggregate production function may be no more than the outcome...
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KEYNOTE: Cannibals, colonial scholars and performance as postcolonial...
Caribbean Quarterly;
March 1, 2007 ;
Ford-Smith, Honor;
787 words
......resistance to it. According to colonial knowledge production, for example, the color, shape and...and that there are rules governing knowledge production which legitimize some forms of knowledge...whose presence in the hierarchies of knowledge production is valued for their "special ...
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An econometric estimation of Hicksian and Marshallian elasticities in...
Southern Economic Journal;
October 1, 1996 ;
Gajanan, Shailendran N. Ramaiah, Kirupakaran C.;
787 words
......if one were to adopt an indirect production function instead of a cost function [7; 14...of substitution for an indirect production function. Blackorby and Russell have argued...conclusions. II. The Model A direct production function that allows for non-neutral technical...
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A Modification of the Production Function for Transition Economies...
Comparative Economic Studies;
March 22, 2001 ;
Kushnirsky, Fyodor I.;
787 words
......economic theory. The neoclassical production function is based on theory that, in the...is reflected in the neoclassical production function by a technological progress component...called into question the conventional production function. Indeed, a precipitous decline in...
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Decomposing technical change: a reply. (response to article by Frank Song...
Southern Economic Journal;
July 1, 1994 ;
Gort, Michael Bahk, Byong H. Wall, Richard A.;
742 words
......separate argument in the production function justified? We discuss each...quality as an argument in the production function, we sought to avoid this problem. Moreover, the production function, as specified in GBW, follows...
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Joint risk preference-technology estimation with a primal system:...
American Journal of Agricultural Economics;
February 1, 1999 ;
Shankar, Bhavani Nelson, Carl H.;
787 words
...The Just-Pope production function represents an important...convenience associated with production function representations of technology...been made that separate production function estimates are inconsistent...
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