| dc.creator |
Chirinko, Robert S. |
|
| dc.creator |
Fazzari, Steven M. |
|
| dc.creator |
Meyer, Andrew P. |
|
| dc.date |
2004 |
|
| dc.date.accessioned |
2013-10-16T07:01:47Z |
|
| dc.date.available |
2013-10-16T07:01:47Z |
|
| dc.date.issued |
2013-10-16 |
|
| dc.identifier |
http://hdl.handle.net/10419/18879 |
|
| dc.identifier |
ppn:393381528 |
|
| dc.identifier.uri |
http://koha.mediu.edu.my:8181/xmlui/handle/10419/18879 |
|
| dc.description |
The elasticity of substitution between capital and labor features prominently in several areas of economic research. However, a consensus estimate remains elusive. We develop an estimation strategy that filters panel data in an original way and avoids several pitfalls - difficult-to-specify dynamics, transitory time-series variation, and positively sloped supply schedules - inherent in investment equations that can bias the estimated elasticity. Results are based on an extensive panel containing 1,860 manufacturing and non-manufacturing firms. Our model generates a precisely estimated elasticity of approximately 0.40. The method developed here may prove useful in estimating other structural parameters from panel datasets. |
|
| dc.language |
eng |
|
| dc.publisher |
|
|
| dc.relation |
CESifo working papers 1240 |
|
| dc.rights |
http://www.econstor.eu/dspace/Nutzungsbedingungen |
|
| dc.subject |
E22 |
|
| dc.subject |
H32 |
|
| dc.subject |
ddc:330 |
|
| dc.subject |
Kapital |
|
| dc.subject |
Arbeit |
|
| dc.subject |
Faktorsubstitution |
|
| dc.subject |
Substitutionselastizität |
|
| dc.subject |
Panel |
|
| dc.subject |
Schätzung |
|
| dc.subject |
Vereinigte Staaten |
|
| dc.title |
That elusive elasticity : a long-panel approach to estimating the capital-labor substitution elasticity |
|
| dc.type |
doc-type:workingPaper |
|