Necessity Is the Mother of Invention: Input Supplies and Directed Technical Change
This study provides causal evidence that a shock to the relative supply of inputs to production can (1) affect the direction of technological progress and (2) lead to a rebound in the relative price of the input that became relatively more abundant (the strong induced‐bias hypothesis). I exploit the...
Ausführliche Beschreibung
Gespeichert in:
| Autor*in: |
Hanlon, W. Walker [verfasserIn] |
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| Format: |
Artikel |
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| Sprache: |
Englisch |
| Erschienen: |
2015 |
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| Rechteinformationen: |
Nutzungsrecht: © 2015 The Econometric Society © COPYRIGHT 2015 Blackwell Publishers Ltd. |
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| Schlagwörter: |
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| Übergeordnetes Werk: |
Enthalten in: Econometrica - [Wechselnde Erscheinungsorte] : [Wechselnde Verlage], 1933, 83(2015), 1, Seite 67-100 |
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| Übergeordnetes Werk: |
volume:83 ; year:2015 ; number:1 ; pages:67-100 |
| Links: |
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| DOI / URN: |
10.3982/ECTA10811 |
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| Katalog-ID: |
OLC1967925917 |
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| 520 | |a This study provides causal evidence that a shock to the relative supply of inputs to production can (1) affect the direction of technological progress and (2) lead to a rebound in the relative price of the input that became relatively more abundant (the strong induced‐bias hypothesis). I exploit the impact of the U.S. Civil War on the British cotton textile industry, which reduced supplies of cotton from the Southern United States, forcing British producers to shift to lower‐quality Indian cotton. Using detailed new data, I show that this shift induced the development of new technologies that augmented Indian cotton. As these new technologies became available, I show that the relative price of Indian/U.S. cotton rebounded to its pre‐war level, despite the increased relative supply of Indian cotton. This is the first paper to establish both of these patterns empirically, lending support to the two key predictions of leading directed technical change theories. | ||
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| 540 | |a © COPYRIGHT 2015 Blackwell Publishers Ltd. | ||
| 650 | 4 | |a strong induced bias | |
| 650 | 4 | |a Directed technical change | |
| 650 | 4 | |a induced innovation | |
| 650 | 4 | |a Textile fabrics | |
| 650 | 4 | |a Cotton industry | |
| 650 | 4 | |a Supply | |
| 650 | 4 | |a Economic history | |
| 650 | 4 | |a Cotton | |
| 650 | 4 | |a American Civil War | |
| 650 | 4 | |a Studies | |
| 650 | 4 | |a Technological change | |
| 650 | 4 | |a Textile industry | |
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10.3982/ECTA10811 doi PQ20160617 (DE-627)OLC1967925917 (DE-599)GBVOLC1967925917 (PRQ)c2663-5998a6a506019ecb8901d59f483f64222ed94e4c3c3a36674b82d2fc7f3f951a0 (KEY)0081619120150000083000100067necessityisthemotherofinventioninputsuppliesanddir DE-627 ger DE-627 rakwb eng 050 DNB 330 AVZ 83.00 bkl Hanlon, W. Walker verfasserin aut Necessity Is the Mother of Invention: Input Supplies and Directed Technical Change 2015 Text txt rdacontent ohne Hilfsmittel zu benutzen n rdamedia Band nc rdacarrier This study provides causal evidence that a shock to the relative supply of inputs to production can (1) affect the direction of technological progress and (2) lead to a rebound in the relative price of the input that became relatively more abundant (the strong induced‐bias hypothesis). I exploit the impact of the U.S. Civil War on the British cotton textile industry, which reduced supplies of cotton from the Southern United States, forcing British producers to shift to lower‐quality Indian cotton. Using detailed new data, I show that this shift induced the development of new technologies that augmented Indian cotton. As these new technologies became available, I show that the relative price of Indian/U.S. cotton rebounded to its pre‐war level, despite the increased relative supply of Indian cotton. This is the first paper to establish both of these patterns empirically, lending support to the two key predictions of leading directed technical change theories. Nutzungsrecht: © 2015 The Econometric Society © COPYRIGHT 2015 Blackwell Publishers Ltd. strong induced bias Directed technical change induced innovation Textile fabrics Cotton industry Supply Economic history Cotton American Civil War Studies Technological change Textile industry Enthalten in Econometrica [Wechselnde Erscheinungsorte] : [Wechselnde Verlage], 1933 83(2015), 1, Seite 67-100 (DE-627)129069795 (DE-600)1798-X (DE-576)014401576 0012-9682 nnns volume:83 year:2015 number:1 pages:67-100 http://dx.doi.org/10.3982/ECTA10811 Volltext http://onlinelibrary.wiley.com/doi/10.3982/ECTA10811/abstract http://search.proquest.com/docview/1658776262 GBV_USEFLAG_A SYSFLAG_A GBV_OLC SSG-OLC-MAT SSG-OLC-WIW GBV_ILN_22 GBV_ILN_26 GBV_ILN_30 GBV_ILN_31 GBV_ILN_39 GBV_ILN_40 GBV_ILN_60 GBV_ILN_70 GBV_ILN_2004 GBV_ILN_2006 GBV_ILN_2012 GBV_ILN_4012 GBV_ILN_4125 GBV_ILN_4326 GBV_ILN_4700 83.00 AVZ AR 83 2015 1 67-100 |
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10.3982/ECTA10811 doi PQ20160617 (DE-627)OLC1967925917 (DE-599)GBVOLC1967925917 (PRQ)c2663-5998a6a506019ecb8901d59f483f64222ed94e4c3c3a36674b82d2fc7f3f951a0 (KEY)0081619120150000083000100067necessityisthemotherofinventioninputsuppliesanddir DE-627 ger DE-627 rakwb eng 050 DNB 330 AVZ 83.00 bkl Hanlon, W. Walker verfasserin aut Necessity Is the Mother of Invention: Input Supplies and Directed Technical Change 2015 Text txt rdacontent ohne Hilfsmittel zu benutzen n rdamedia Band nc rdacarrier This study provides causal evidence that a shock to the relative supply of inputs to production can (1) affect the direction of technological progress and (2) lead to a rebound in the relative price of the input that became relatively more abundant (the strong induced‐bias hypothesis). I exploit the impact of the U.S. Civil War on the British cotton textile industry, which reduced supplies of cotton from the Southern United States, forcing British producers to shift to lower‐quality Indian cotton. Using detailed new data, I show that this shift induced the development of new technologies that augmented Indian cotton. As these new technologies became available, I show that the relative price of Indian/U.S. cotton rebounded to its pre‐war level, despite the increased relative supply of Indian cotton. This is the first paper to establish both of these patterns empirically, lending support to the two key predictions of leading directed technical change theories. Nutzungsrecht: © 2015 The Econometric Society © COPYRIGHT 2015 Blackwell Publishers Ltd. strong induced bias Directed technical change induced innovation Textile fabrics Cotton industry Supply Economic history Cotton American Civil War Studies Technological change Textile industry Enthalten in Econometrica [Wechselnde Erscheinungsorte] : [Wechselnde Verlage], 1933 83(2015), 1, Seite 67-100 (DE-627)129069795 (DE-600)1798-X (DE-576)014401576 0012-9682 nnns volume:83 year:2015 number:1 pages:67-100 http://dx.doi.org/10.3982/ECTA10811 Volltext http://onlinelibrary.wiley.com/doi/10.3982/ECTA10811/abstract http://search.proquest.com/docview/1658776262 GBV_USEFLAG_A SYSFLAG_A GBV_OLC SSG-OLC-MAT SSG-OLC-WIW GBV_ILN_22 GBV_ILN_26 GBV_ILN_30 GBV_ILN_31 GBV_ILN_39 GBV_ILN_40 GBV_ILN_60 GBV_ILN_70 GBV_ILN_2004 GBV_ILN_2006 GBV_ILN_2012 GBV_ILN_4012 GBV_ILN_4125 GBV_ILN_4326 GBV_ILN_4700 83.00 AVZ AR 83 2015 1 67-100 |
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10.3982/ECTA10811 doi PQ20160617 (DE-627)OLC1967925917 (DE-599)GBVOLC1967925917 (PRQ)c2663-5998a6a506019ecb8901d59f483f64222ed94e4c3c3a36674b82d2fc7f3f951a0 (KEY)0081619120150000083000100067necessityisthemotherofinventioninputsuppliesanddir DE-627 ger DE-627 rakwb eng 050 DNB 330 AVZ 83.00 bkl Hanlon, W. Walker verfasserin aut Necessity Is the Mother of Invention: Input Supplies and Directed Technical Change 2015 Text txt rdacontent ohne Hilfsmittel zu benutzen n rdamedia Band nc rdacarrier This study provides causal evidence that a shock to the relative supply of inputs to production can (1) affect the direction of technological progress and (2) lead to a rebound in the relative price of the input that became relatively more abundant (the strong induced‐bias hypothesis). I exploit the impact of the U.S. Civil War on the British cotton textile industry, which reduced supplies of cotton from the Southern United States, forcing British producers to shift to lower‐quality Indian cotton. Using detailed new data, I show that this shift induced the development of new technologies that augmented Indian cotton. As these new technologies became available, I show that the relative price of Indian/U.S. cotton rebounded to its pre‐war level, despite the increased relative supply of Indian cotton. This is the first paper to establish both of these patterns empirically, lending support to the two key predictions of leading directed technical change theories. Nutzungsrecht: © 2015 The Econometric Society © COPYRIGHT 2015 Blackwell Publishers Ltd. strong induced bias Directed technical change induced innovation Textile fabrics Cotton industry Supply Economic history Cotton American Civil War Studies Technological change Textile industry Enthalten in Econometrica [Wechselnde Erscheinungsorte] : [Wechselnde Verlage], 1933 83(2015), 1, Seite 67-100 (DE-627)129069795 (DE-600)1798-X (DE-576)014401576 0012-9682 nnns volume:83 year:2015 number:1 pages:67-100 http://dx.doi.org/10.3982/ECTA10811 Volltext http://onlinelibrary.wiley.com/doi/10.3982/ECTA10811/abstract http://search.proquest.com/docview/1658776262 GBV_USEFLAG_A SYSFLAG_A GBV_OLC SSG-OLC-MAT SSG-OLC-WIW GBV_ILN_22 GBV_ILN_26 GBV_ILN_30 GBV_ILN_31 GBV_ILN_39 GBV_ILN_40 GBV_ILN_60 GBV_ILN_70 GBV_ILN_2004 GBV_ILN_2006 GBV_ILN_2012 GBV_ILN_4012 GBV_ILN_4125 GBV_ILN_4326 GBV_ILN_4700 83.00 AVZ AR 83 2015 1 67-100 |
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This study provides causal evidence that a shock to the relative supply of inputs to production can (1) affect the direction of technological progress and (2) lead to a rebound in the relative price of the input that became relatively more abundant (the strong induced‐bias hypothesis). I exploit the impact of the U.S. Civil War on the British cotton textile industry, which reduced supplies of cotton from the Southern United States, forcing British producers to shift to lower‐quality Indian cotton. Using detailed new data, I show that this shift induced the development of new technologies that augmented Indian cotton. As these new technologies became available, I show that the relative price of Indian/U.S. cotton rebounded to its pre‐war level, despite the increased relative supply of Indian cotton. This is the first paper to establish both of these patterns empirically, lending support to the two key predictions of leading directed technical change theories. |
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This study provides causal evidence that a shock to the relative supply of inputs to production can (1) affect the direction of technological progress and (2) lead to a rebound in the relative price of the input that became relatively more abundant (the strong induced‐bias hypothesis). I exploit the impact of the U.S. Civil War on the British cotton textile industry, which reduced supplies of cotton from the Southern United States, forcing British producers to shift to lower‐quality Indian cotton. Using detailed new data, I show that this shift induced the development of new technologies that augmented Indian cotton. As these new technologies became available, I show that the relative price of Indian/U.S. cotton rebounded to its pre‐war level, despite the increased relative supply of Indian cotton. This is the first paper to establish both of these patterns empirically, lending support to the two key predictions of leading directed technical change theories. |
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This study provides causal evidence that a shock to the relative supply of inputs to production can (1) affect the direction of technological progress and (2) lead to a rebound in the relative price of the input that became relatively more abundant (the strong induced‐bias hypothesis). I exploit the impact of the U.S. Civil War on the British cotton textile industry, which reduced supplies of cotton from the Southern United States, forcing British producers to shift to lower‐quality Indian cotton. Using detailed new data, I show that this shift induced the development of new technologies that augmented Indian cotton. As these new technologies became available, I show that the relative price of Indian/U.S. cotton rebounded to its pre‐war level, despite the increased relative supply of Indian cotton. This is the first paper to establish both of these patterns empirically, lending support to the two key predictions of leading directed technical change theories. |
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