Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/192538 
Autor:innen: 
Erscheinungsjahr: 
2008
Schriftenreihe/Nr.: 
Discussion Papers No. 556
Verlag: 
Statistics Norway, Research Department, Oslo
Zusammenfassung: 
In a system with n input factors there are n − 1 independent cost shares. An often-used approach in estimating factor demand systems is to (implicitly or explicitly) assume that there is a (independent) cointegrating relationship for each of the n − 1 independent cost shares. However, due to technological changes there might not be as many cointegrating relationships as there are (independent) cost shares. The paper presents a flexible demand system that allows for both factor neutral technological changes as well as technological changes that affect the relative use of the different factors. The empirical tests indicate that there are fewer cointegrating relationships than usually implied by using conventional estimation approaches. This result is consistent with technological changes. I argue that since such unexplained technological changes are likely to affect input factor decisions, a demand system that allows for such changes should be preferred.
Schlagwörter: 
Factor demand
technological changes
growth rates
JEL: 
C32
C52
D24
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
331.01 kB





Publikationen in EconStor sind urheberrechtlich geschützt.