Price deflators and the estimation of the production function
AbstractThe use of industry indices to deflate nominal revenues and expenditure in intermediary inputs has been found to lead to lower scale estimates of the production function. This paper proposes a new approach to solve the estimation biases due to the use of industry deflators which relies on the use of the firms' labour cost.
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 99 (2008)
Issue (Month): 1 (April)
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