期刊名称：HIER Discussion Paper Series / Harvard Institute of Economic Research
出版年度：2008
卷号：2008
出版社：Harvard Institute of Economic Research
摘要：We develop a simple estimator for production functions in the presence of
endogenous productivity change that allows us to retrieve productivity and its
relationship with R&D at the firm level. By endogenizing the productivity
process we build on the recent literature on structural estimation of production
functions. Our dynamic investment model can be viewed as a generalization of the
knowledge capital model (Griliches 1979) that has remained a cornerstone of the
productivity literature for more than 25 year. We relax the assumptions on the
R&D process and examine the impact of the investment in knowledge on the
productivity of firms. We illustrate our approach on an unbalanced panel of
more than 1800 Spanish manufacturing firms in nine industries during the 1990s.
Our findings indicate that the link between R&D and productivity is subject
to a high degree of uncertainty and nonlinearity, we extend the knowledge
capital model. Moreover, capturing heterogeneity gives us the ability to access
the role of R&D in determining the differences in productivity across firms
and the evolution of firm level productivity over time
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