Stochastic Technical Change and Procyclical TFP The Case of Italian Agriculture

Roberto Esposti

Journal of Productivity Analysis, 2000, vol. 14, issue 2, 119-141

Abstract: The paper questionsthe use of Total Factor Productivity (TFP) measures as a proxyfor the technological level in Italian agriculture. TFP growthreveals a cyclical behaviour and a short-run component due toshocks on both the demand and supply sides. In order to identifyreal long-run technological change, a Kalman filter procedureis applied to a stochastic process depicting the generation oftechnical change induced by R&D and Extension expenditure.The empirical evidence reveals that short-term shocks greatlyaffect the traditional measure of productivity. A better indicatorof technological progress can be obtained by estimating the long-runcomponent of productivity, which seems to be significantly inducedby R&D-Extension public expenditure. Copyright Kluwer Academic Publishers 2000

Keywords: Technical Change; Italian Agriculture; Latent Variable; Kalman Filter (search for similar items in EconPapers)
Date: 2000
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Citations: View citations in EconPapers (10)

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DOI: 10.1023/A:1007846907896

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