Using a translog production function we estimate the impact of R&D spillovers on the output performance of Italian manufacturing firms over the period 1998-2003. Technological flows are measured through an asymmetric similarity index that takes also into account the geographical proximity of...

In this paper we study the zero frequency spectral properties of fractionally cointegrated long memory processes and introduce a new frequency domain principal components estimator of the cointegration space and the factor loading matrix for the long memory factors. We find that for fractionally...