The Experts below are selected from a list of 643245 Experts worldwide ranked by ideXlab platform
Antonio Musolesi - One of the best experts on this subject based on the ideXlab platform.
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Econometric Modelling of the Regional Knowledge Production Function in Europe
Journal of Economic Geography, 2015Co-Authors: Sylvie Charlot, Ricardo Crescenzi, Antonio MusolesiAbstract:By adopting a semiparametric approach, the ‘traditional’ regional knowledge Production Function is developed in three complementary directions. First, the model is augmented with region-specific time trends to account for endogeneity due to selection on unobservables. Second, the nonparametric part of the model relaxes the standard assumptions of linearity and additivity regarding the effect of R&D and human capital. Finally, the assumption of homogeneity in the effects of R&D and human capital is also relaxed by explicitly accounting for the differences between developed and lagging regions. The analysis of the genesis of innovation in the regions of the European Union unveils nonlinearities, threshold effects, complex interactions and shadow effects that cannot be uncovered by standard parametric formulations.
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econometric modelling of the regional knowledge Production Function in europe
Research Papers in Economics, 2014Co-Authors: Sylvie Charlot, Riccardo Crescenzi, Antonio MusolesiAbstract:By adopting a semiparametric approach, the ‘traditional’ regional knowledge Production Function is developed in three complementary directions. First, the model is augmented with region-specific time trends to account for endogeneity due to selection on unobservables. Second, the nonparametric part of the model relaxes the standard assumptions of linearity and additivity regarding the effect of R&D and human capital. Finally, the assumption of homogeneity in the effects of R&D and human capital is also relaxed by explicitly accounting for the differences between developed and lagging regions. The analysis of the genesis of innovation in the regions of the European Union unveils nonlinearities, threshold effects, complex interactions and shadow
Jaypee Sevilla - One of the best experts on this subject based on the ideXlab platform.
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the effect of health on economic growth a Production Function approach
World Development, 2004Co-Authors: David E. Bloom, David Canning, Jaypee SevillaAbstract:Abstract We estimate a Production Function model of aggregate economic growth including two variables that microeconomists have identified as fundamental components of human capital: work experience and health. Our main result is that good health has a positive, sizable, and statistically significant effect on aggregate output even when we control for experience of the workforce. We argue that the life expectancy effect in growth regressions appears to be a real labor productivity effect, and is not the result of life expectancy acting as a proxy for worker experience.
Sylvie Charlot - One of the best experts on this subject based on the ideXlab platform.
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Econometric Modelling of the Regional Knowledge Production Function in Europe
Journal of Economic Geography, 2015Co-Authors: Sylvie Charlot, Ricardo Crescenzi, Antonio MusolesiAbstract:By adopting a semiparametric approach, the ‘traditional’ regional knowledge Production Function is developed in three complementary directions. First, the model is augmented with region-specific time trends to account for endogeneity due to selection on unobservables. Second, the nonparametric part of the model relaxes the standard assumptions of linearity and additivity regarding the effect of R&D and human capital. Finally, the assumption of homogeneity in the effects of R&D and human capital is also relaxed by explicitly accounting for the differences between developed and lagging regions. The analysis of the genesis of innovation in the regions of the European Union unveils nonlinearities, threshold effects, complex interactions and shadow effects that cannot be uncovered by standard parametric formulations.
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econometric modelling of the regional knowledge Production Function in europe
Research Papers in Economics, 2014Co-Authors: Sylvie Charlot, Riccardo Crescenzi, Antonio MusolesiAbstract:By adopting a semiparametric approach, the ‘traditional’ regional knowledge Production Function is developed in three complementary directions. First, the model is augmented with region-specific time trends to account for endogeneity due to selection on unobservables. Second, the nonparametric part of the model relaxes the standard assumptions of linearity and additivity regarding the effect of R&D and human capital. Finally, the assumption of homogeneity in the effects of R&D and human capital is also relaxed by explicitly accounting for the differences between developed and lagging regions. The analysis of the genesis of innovation in the regions of the European Union unveils nonlinearities, threshold effects, complex interactions and shadow
John S L Mccombie - One of the best experts on this subject based on the ideXlab platform.
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the aggregate Production Function and the measurement of technical change not even wrong
2015Co-Authors: Jesus Felipe, John S L MccombieAbstract:Contents: Prologue Introduction 1. Some Problems with the Aggregate Production Function 2. The Aggregate Production Function: Behavioural Relationship or Accounting Identity? 3. Simulation Studies, the Aggregate Production Function, and the Accounting Identity 4. 'Are There Laws of Production?' The Work of Cobb and Douglas and its Early Reception 5. Solow's 'Technical Change and the Aggregate Production Function', and the Accounting Identity 6. What does Total Factor Productivity Actually Measure? Further Observations on the Solow Model 7. Why Are Some Countries Richer than Others? A Sceptical View of Mankiw-Romer-Weil's Test of the Neoclassical Growth Model 8. Some Problems with the Neoclassical Dual-Sector Growth Model 9. Is Capital Special? The Role of the Growth of Capital and its Externality Effect in Economic Growth 10. Problems Posed by the Accounting Identity for the Estimation of the Degree of Market Power and the Mark-up 11. Are Estimates of Labour Demand Functions Mere Statistical Artefacts? References Index
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the aggregate Production Function not even wrong
Review of Political Economy, 2014Co-Authors: Jesus Felipe, John S L MccombieAbstract:The foundations of the aggregate Production Function were long ago thrown into doubt by problems of aggregation and the Cambridge capital theory controversies. Yet the aggregate Production Function, whether in the familiar form of the Cobb-Douglas, the CES, or the translog, continues to be widely used in both theoretical and applied analysis. The reason for its continued use rests on the instrumental position that 'it works'. The aggregate Production Function sometimes yields good statistical fits with plausible estimates of the coefficients. However, for some time, it has been realised that the existence of an underlying accounting identity can explain the regression results, even if the aggregate Production Function does not exist. This argument has been widely ignored. This paper, drawing on a rhetorical approach, assesses why this is the case. It shows that the few criticisms that have been made of the critique involve fundamental misunderstandings that represent a failure of the economic method.
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how sound are the foundations of the aggregate Production Function
Eastern Economic Journal, 2013Co-Authors: Jesus Felipe, John S L MccombieAbstract:The aggregate Production Function has been subject to a number of criticisms ever since its first empirical estimation by Cobb and Douglas in the 1920s, notably the problems raised by aggregation and the Cambridge Capital Theory Controversies. There is a further criticism due initially to Phelps Brown (and elaborated, in particular, by Simon and Shaikh) which is not so widely known. This critique is that because at the aggregate level only value data can be used to estimate Production Function, this means that the estimated parameters of the Production Function are merely capturing an underlying accounting identity. Hence, no reliance can be placed on estimates of, for example, the elasticity of substitution as reflecting technological parameters. The argument also explains why good statistical fits of the aggregate Production Functions are obtained, notwithstanding the difficulties posed by the aggregation problem and the Cambridge Capital Controversies noted above. This paper outlines and assesses the Phelps Brown critique and its extensions. In particular, it considers some possible objections to his argument and demonstrates that they are not significant. It is concluded that the theoretical basis of the aggregate Production Function is problematic. JEL Classification: O3 O4
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cantabrigian economics and the aggregate Production Function
European Journal of Economics and Economic Policies: Intervention, 2011Co-Authors: John S L MccombieAbstract:In Cambridge, UK, in the late 1960s and early 1970s, there were some of the most distinguished post-war non-neoclassical economists, which included Nicholas Kaldor, Joan Robinson and Piero Sraffa. The Cambridge capital theory controversies seemed to have been decisively settled in Cambridge, UK’s favour, yet no alternative paradigm emerged to challenge the prevailing neoclassical orthodoxy. This paper briefly looks at the reasons for this, including why the Cambridge capital theory debate, despite its important ramifications, is now largely forgotten. The paper concludes by looking at a further problem that vitiates the aggregate Production Function, resulting from the use of constant-price value data in econometric estimation. This criticism has also been widely ignored.
Samuel Cooper - One of the best experts on this subject based on the ideXlab platform.
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estimation of a frontier Production Function for the south carolina educational process
Economics of Education Review, 1997Co-Authors: Samuel Cooper, Elchanan CohnAbstract:Abstract Using data from 541 classes in South Carolina, OLS and frontier Production Functions are estimated. Results indicate that classes taught by teachers who received merit awards show greater mathematics and reading achievement gain scores, as are classes in which there are fewer students who receive free or reduced-fee lunch. Results for teacher sex and race are ambiguous, as are results for teacher education. We also found a positive relation between achievement and class size, contrary to popular perceptions. Finally, the results from the frontier Production Function strongly suggest that at least some degree of inefficiency is present in the South Carolina education system. Some suggestions for school improvement are offered.
