Non-Neutral Marginal Innovation Costs, Omitted Variables, and Induced Innovation

被引：1

作者：

Lee, Daegoon ^{[1
]}

Cowan, Benjamin W. ^{[2
]}

Shumway, C. Richard ^{[2
]}

机构：

[1] Washington State Employment Secur Dept, Policy Data Performance & Integr Div, Olympia, WA 98501 USA

[2] Washington State Univ, Sch Econ Sci, Pullman, WA 99164 USA

来源：

AGRICULTURAL AND RESOURCE ECONOMICS REVIEW | 2020年 / 49卷 / 03期

基金：

美国食品与农业研究所;

关键词：

demand; two-way fixed effects; factor augmentation; induced innovation; innovation function; omitted variables; supply; U.S; agriculture; TIME-SERIES TESTS; UNITED-STATES; PRODUCTIVITY GROWTH; TECHNICAL CHANGE; INDUCED BIAS; PRICES; EXPECTATIONS; AGRICULTURE; COINTEGRATION; JAPAN;

D O I：

10.1017/age.2020.1

中图分类号：

F3 [农业经济];

学科分类号：

0202 ; 020205 ; 1203 ;

摘要：

Prior tests of Hicks' Induced Innovation Hypothesis (IIH) have been greatly hampered because the lack of supply-side data implicitly requires the untenable assumption that the marginal research cost is the same for different inputs. We document that, with appropriate model specification and panel data, a two-way fixed-effects estimator can account for much of the non-neutrality of the innovation function. Using a test procedure that is robust to a time-variant and non-neutral innovation function, we test the IIH in U.S. agriculture for the period 1960-2004. We use only readily available data for innovation demand and total public research expenditures.

引用

页码：465 / 491

页数：27