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Identification And Estimation Of Elasticities Of Substitution For Firm Level Production Functions Using Aggregative Data
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Book Synopsis Identification and Estimation of Elasticities of Substitution for Firm-Level Production Functions Using Aggregative Data by : George Edward Battese
Download or read book Identification and Estimation of Elasticities of Substitution for Firm-Level Production Functions Using Aggregative Data written by George Edward Battese and published by . This book was released on 1986 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Estimation of Elasticities of Substitution for CES Production by : George Edward Battese
Download or read book Estimation of Elasticities of Substitution for CES Production written by George Edward Battese and published by . This book was released on 1986 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Constant Versus Non-constant Production Elasticities Among Firms by : Ali Ismail Medani
Download or read book Constant Versus Non-constant Production Elasticities Among Firms written by Ali Ismail Medani and published by . This book was released on 1965 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Estimation of Substitution Elasticities in Three-Factor Production Functions by : Julius Frieling
Download or read book Estimation of Substitution Elasticities in Three-Factor Production Functions written by Julius Frieling and published by . This book was released on 2017 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: Existing estimation methods for multi-factor CES functions require limiting assumptions about the nature of technical change. We demonstrate how a system of equations and a fixed elasticity in the nested process can provide identification for more flexible specifications and for small data samples. We evaluate the role of energy inputs in an aggregate production function using data for Germany. The use of a Cobb-Douglas process for capital and labor by other studies biases elasticity estimates upwards. The estimated low elasticity means that energy availability is a potentially limiting factor for growth and that productivity gains for capital and labor are energy-using.
Book Synopsis Micro Data and the Macro Elasticity of Substitution by : Ezra Oberfield
Download or read book Micro Data and the Macro Elasticity of Substitution written by Ezra Oberfield and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We estimate the aggregate elasticity of substitution between capital and labor in the US manufacturing sector. We show that the aggregate elasticity of substitution can be expressed as a simple function of plant level structural parameters and sufficient statistics of the distribution of plant input cost shares. We then use plant level data from the Census of Manufactures to construct a local elasticity of substitution at various levels of aggregation. Our approach does not assume the existence of a stable aggregate production function, as we build up our estimate from the cross section of plants at a point in time. Accounting for substitution within and across plants, we find that the aggregate elasticity is substantially below unity at approximately 0.7. Lastly we assess the sources of the bias of aggregate technical change from 1987 to 1997. We find that the labor augmenting character of aggregate technical change is due almost exclusively to labor augmenting productivity growth at the plant level rather than relative growth in capital intensive plants.
Download or read book Aggregation written by Franklin M. Fisher and published by . This book was released on 1992 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work deals with the question of the conditions for the existence of aggregate production functions (the heart of macroeconomics). It examines the conditions for approximate aggregation and through simulation experiments, considers why aggregate production functions appear to work.
Book Synopsis Aggregation, the skill premium, and the two-level production function by : Miguel A. León-Ledesma
Download or read book Aggregation, the skill premium, and the two-level production function written by Miguel A. León-Ledesma and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book International Books in Print written by and published by . This book was released on 1997 with total page 1742 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Production Economics: A Dual Approach to Theory and Applications by : Melvyn Fuss
Download or read book Production Economics: A Dual Approach to Theory and Applications written by Melvyn Fuss and published by Elsevier. This book was released on 2014-06-28 with total page 361 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contributions to Economic Analysis: Production Economics: A Dual Approach to Theory and Applications, Volume 2 focuses on the theory of production from the standpoint of the "dual", the relationships between economic observables which are dual to physical technology. The selection first ponders on duality, intermediate inputs and value-added, Hicks' aggregation theorem and the existence of a real value-added function, and homotheticity and real value-added in Canadian manufacturing. Discussions focus on real value-added and the production structure, estimation of the production structure, double deflation and real value-added, measurement of total productivity, and duality between direct and conditional indirect utility functions. The book then examines the estimation techniques for the elasticity of substitution and other production parameters and measurement of the elasticity of factor substitution and bias of technical change. The publication takes a look at the identification of technical change in the electricity generating industry, factor substitution in electricity generation, and the effectiveness of rate-of-return regulation. Topics include statistical tests of regulatory effectiveness, profit function for a regulated firm, tests of the structure of technology, identification problems in the measurement of technical change, and measurement of disembodied technical change. The selection is a valuable source of information for economists and researchers interested in production economics.
Book Synopsis The Aggregate Production Function and the Measurement of Technical Change by : Jesus Felipe
Download or read book The Aggregate Production Function and the Measurement of Technical Change written by Jesus Felipe and published by Edward Elgar Publishing. This book was released on 2013-10-31 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: This authoritative and stimulating book represents a fundamental critique of the aggregate production function, a concept widely used in macroeconomics.
Book Synopsis The Theory and Empirical Analysis of Production by : Murray Brown
Download or read book The Theory and Empirical Analysis of Production written by Murray Brown and published by . This book was released on 1967 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Estimating the Elasticity of Substitution from International Manufacturing Census Data by : Merle Ina Yahr
Download or read book Estimating the Elasticity of Substitution from International Manufacturing Census Data written by Merle Ina Yahr and published by . This book was released on 1967 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Shape of Aggregate Production Functions by : Jakub Growiec
Download or read book The Shape of Aggregate Production Functions written by Jakub Growiec and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The article provides multifaceted evidence on the shape of the aggregate country-level production function, derived from the World Technology Frontier, estimated on the basis of annual data on inputs and output in 19 highly developed OECD countries in the period 1970-2004. A comparison of its estimates based on Data Envelopment Analysis and Bayesian Stochastic Frontier Analysis uncovers a number of significant discrepancies between the nonparametric estimates of the frontier and the Cobb-Douglas and translog production functions in terms of implied efficiency levels, partial elasticities, and returns-to-scale properties. Furthermore, the two latter characteristics as well as elasticities of substitution are found to differ markedly across countries and time, providing strong evidence against the constant-returns-to-scale (CRS) Cobb-Douglas specification, frequently used in related literature. We also find notable departures from perfect substitutability between unskilled and skilled labor, consistent with the hypotheses of skill-biased technical change and capital-skill complementarity. In the Appendix, as a corollary from our results, we have also conducted a series of development accounting and growth accounting exercises.
Book Synopsis In Search of Aggregate Production Function Specification by : Jagath Dissanayake
Download or read book In Search of Aggregate Production Function Specification written by Jagath Dissanayake and published by . This book was released on 2014 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper re-estimates the constant-elasticity-of-substitution (CES) specification of aggregate production function using newly constructed annual data on physical and human capital stocks for a panel of 134 countries observed over the period 1960-2011. In our estimation, we allow parameters to be heterogeneous across countries. Our estimation accounts for endogeneity of inputs, cross-section dependence, variable non-stationarity and serial correlation. Despite the empirical consensus in the literature in favour of CES specification, our results suggest that there is no convincing evidence to reject the Cobb-Douglas specification as an aggregate production function specification.
Download or read book PIDE Tidings written by and published by . This book was released on 1981 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Isoelastic Elasticity of Substitution Production Functions by :
Download or read book Isoelastic Elasticity of Substitution Production Functions written by and published by . This book was released on 2015 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Research Report Series written by and published by . This book was released on 1987 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt:
