 Modeling Technical Change: Theory and PracticeChapter 21 in Handbook of Production Economics, 2022, pp 871-923 from Springer Abstract: Abstract This chapter focuses on models dealing with technical change (TC). We discuss TC under both single output and multiple outputs cases. For the single output case, we specify the technology in terms of a (i) production (input or output distance) function, (ii) cost function, and (iii) profit function. Each of these cases is discussed under disembodied approaches, which are not associated with a specific input and embodied (factor-augmenting (FA)) approaches, which are specific to input(s). In the disembodied approach, we mostly focus on time driven TC which includes models with the time trend and general index approaches. First, we discuss each of the cases in a standard neoclassical setup without technical inefficiency followed by a brief discussion of some of the models with technical inefficiency. We also discuss TC and total factor productivity (TFP) in models with good and bad outputs. Finally, we link TFP change with profitability change. Keywords: Technical change; Total factor productivity; Panel data; Production function; Cost function; Profit function; Distance function; Technical inefficiency (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-10-3455-8_27 Ordering information: This item can be ordered from DOI: 10.1007/978-981-10-3455-8_27 Access Statistics for this chapter More chapters in Springer Books from Springer |
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