キム　ヨンガク   KIM Young Gak   金 榮愨    所属   専修大学  経済学部    専修大学大学院  経済学研究科    職種   教授
言語種別	日本語
発行・発表の年月	2007/12
形態種別	未選択
標題	Estimating Production Functions with R&D Investment and Endogeneity
執筆形態	単著
掲載誌名	***
巻・号・頁	1-37頁
総ページ数	37
概要	This study analyses the production function estimation when there is an unobservable idiosyncratic productivity shock and the series of the productivity shock follows a first-order endogenous Markov process which is controlled by R&D investment. The production function approach, in general, suffers from endogeneity problems when there are determinants of production which are not observed by the econometrician but are observed by the manager of a firm. To control for this problem, recently developed econometric methods are applied to the production function estimation. The results show that there is a possibility that other estimation methods such as OLS estimation and fixed effect estimation underestimates the contribution of capital. The results also suggest that the rate of return to R&D varies considerably across industries and within an industry.