Cointegration, factor shares, and production function parameters
AbstractThis note evaluates the usefulness of cointegration relations for estimating production function parameters, as pioneered by Caballero (1994). While using long-run variation to estimate production function parameters is a desirable estimation strategy, this note demonstrates that the Cointegration Model will not be informative for estimating substitution parameters.
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 112 (2011)
Issue (Month): 2 (August)
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Web page: http://www.elsevier.com/locate/ecolet
Production function parameters Factor substitution Cointegration;
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