Abstract

http://ssrn.com/abstract=260520
 


 



Aggregation Effects and Panel Data Estimation Problems: An Investigationof the R&D Intensity Decision


Ariel Pakes


National Bureau of Economic Research (NBER); Harvard University - Department of Economics

May 1979

NBER Working Paper No. w0344

Abstract:     
This paper considers why the determinants of the inter- and intra-industry variance in R&D intensity in U.S. manufacturing differ markedly even though response parameters are similar across industries. A similar aggregation effect is noted by Grunfeld and Griliches (1960), and this paper gives that effect operational content in terms of grouped data estimation procedures. Observationally equivalent aggregation results can be generated by errors in variables models (see Aigner and Goldfeld [1974]).A later section considers specifications which identify the empirical importance of both these problems. Finally, a summary of the empirical results on the determinants of R&D intensity is provided.

Number of Pages in PDF File: 47

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Date posted: February 15, 2001  

Suggested Citation

Pakes, Ariel, Aggregation Effects and Panel Data Estimation Problems: An Investigationof the R&D Intensity Decision (May 1979). NBER Working Paper No. w0344. Available at SSRN: http://ssrn.com/abstract=260520

Contact Information

Ariel Pakes (Contact Author)
National Bureau of Economic Research (NBER) ( email )
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
Harvard University - Department of Economics ( email )
Littauer Center
Room 117
Cambridge, MA 02138
United States
617-495-5320 (Phone)
617-495-8570 (Fax)
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