Non-Parametric Estimation of Technical Progress |
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| Authors: | Fox Kevin J |
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| Institution: | (1) School of Economics, The University of New South Wales, Sydney, 2052, Australia |
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| Abstract: | The modelling of technical progress in a production economy is a problem of great interest. Non-parametric approximation of technical progress through the use of an adaptively fitted spline function is presented as an attractive solution. An application demonstrates the sensitivity of estimates of technical progress and price elasticities to the specification of the time trend. |
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| Keywords: | Technical progress Non-parametric estimation Model selection criteria |
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