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dc.contributor.authorChirinko, Robert S.en_US
dc.contributor.authorFazzari, Steven M.en_US
dc.contributor.authorMeyer, Andrew P.en_US
dc.date.accessioned2009-01-28T15:53:31Z-
dc.date.available2009-01-28T15:53:31Z-
dc.date.issued2004en_US
dc.identifier.urihttp://hdl.handle.net/10419/18879-
dc.description.abstractThe 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.en_US
dc.language.isoengen_US
dc.publisheren_US
dc.relation.ispartofseriesCESifo working papers 1240en_US
dc.subject.jelE22en_US
dc.subject.jelH32en_US
dc.subject.ddc330en_US
dc.subject.stwKapitalen_US
dc.subject.stwArbeiten_US
dc.subject.stwFaktorsubstitutionen_US
dc.subject.stwSubstitutionselastizitäten_US
dc.subject.stwPanelen_US
dc.subject.stwSchätzungen_US
dc.subject.stwVereinigte Staatenen_US
dc.titleThat elusive elasticity : a long-panel approach to estimating the capital-labor substitution elasticityen_US
dc.typeWorking Paperen_US
dc.identifier.ppn393381528en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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