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dc.contributor.authorChirinko, Robert S.en
dc.contributor.authorFazzari, Steven M.en
dc.contributor.authorMeyer, Andrew P.en
dc.date.accessioned2009-01-28T15:53:31Z-
dc.date.available2009-01-28T15:53:31Z-
dc.date.issued2004-
dc.identifier.urihttp://hdl.handle.net/10419/18879-
dc.description.abstractThe elasticity of substitution between capital and labor features prominently in several areasof economic research. However, a consensus estimate remains elusive. We develop anestimation strategy that filters panel data in an original way and avoids several pitfalls -difficult-to-specify dynamics, transitory time-series variation, and positively sloped supplyschedules - inherent in investment equations that can bias the estimated elasticity. Results arebased on an extensive panel containing 1,860 manufacturing and non-manufacturing firms.Our model generates a precisely estimated elasticity of approximately 0.40. The methoddeveloped here may prove useful in estimating other structural parameters from paneldatasets.en
dc.language.isoengen
dc.publisher|aCenter for Economic Studies and ifo Institute (CESifo) |cMunichen
dc.relation.ispartofseries|aCESifo Working Paper |x1240en
dc.subject.jelE22en
dc.subject.jelH32en
dc.subject.ddc330en
dc.subject.stwKapitalen
dc.subject.stwArbeiten
dc.subject.stwFaktorsubstitutionen
dc.subject.stwSubstitutionselastizitäten
dc.subject.stwPanelen
dc.subject.stwSchätzungen
dc.subject.stwVereinigte Staatenen
dc.titleThat elusive elasticity : a long-panel approach to estimating the capital-labor substitution elasticity-
dc.typeWorking Paperen
dc.identifier.ppn856722391en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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