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Technological Change in Renewable Resource Industries: An Alternative Estimation Approach

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  • Kvamsdal, Sturla F.

    (Dept. of Finance and Management Science, Norwegian School of Economics and Business Administration)

Abstract

I set forth a generalized stochastic time trend approach, based upon the Kalman filter, as an alternative to the general index approach to measure technological change. Technology is treated as a latent variable in a state-space model of the production function. In data sparse settings, where panel data are unavailable, the method provides results which encompass insights from the general index approach, but provides more detailed estimates. I revisit an analysis of technological change in the Lofoten fishery. The estimated technology time profiles agree to some extent between the methods, but my more detailed results demand a new historical interpretation.

Suggested Citation

  • Kvamsdal, Sturla F., 2012. "Technological Change in Renewable Resource Industries: An Alternative Estimation Approach," Discussion Papers 2012/14, Norwegian School of Economics, Department of Business and Management Science.
    • Handle: RePEc:hhs:nhhfms:2012_014
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    File URL: http://hdl.handle.net/11250/164194
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    References listed on IDEAS

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    1. Hendry, David F., 1995. "Dynamic Econometrics," OUP Catalogue, Oxford University Press, number 9780198283164.
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    6. James Kirkley & Catherine Morrison Paul & Stephen Cunningham & Joseph Catanzano, 2004. "Embodied and Disembodied Technical Change in Fisheries: An Analysis of the Sète Trawl Fishery, 1985–1999," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 29(2), pages 191-217, October.
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    More about this item

    Keywords

    Renewable Resource Industries; Kalman Filter; Technological Change;
    All these keywords.

    JEL classification:

    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery

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