A General Index of Technical Change

摘要: This paper outlines a procedure for estimating general index of technical change within the context quite production technology. Specifically, when panel data are available firms in an industry, time-specific dummies can be combined nonlinear estimation to yield that may both nonneutral and scale augmenting. approach offers numerous advantages over traditional time trend representation change. For example, serve as basis analysis determinants Results sample 30 electric utilities period 1951-78 show productivity decline 1970s attributed primarily sulphur oxide restrictions secularly declining capacity utilization due rapidly increasing peak-load demands.