A note on Allen-Uzawa partial elasticities of substitution: the case of the translog cost function
AbstractThis note provides a useful property of the Allen-Uzawa partials for the translog cost function. It also suggests how the main results extend to any functional form with certain properties. The curvature of the Allen-Uzawa matrix is the same as the curvature of the Hessian matrix. Intuitively and empirically, the Allen-Uzawa partials allow for the verification of curvature properties.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Applied Economics Letters.
Volume (Year): 16 (2009)
Issue (Month): 11 ()
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Other versions of this item:
- Christev, Atanas & Featherstone, Allen, 2007. "A Note on Allen-Uzawa Partial Elasticities of Substitution: The Case of the Translog Cost Function," IZA Discussion Papers 2712, Institute for the Study of Labor (IZA).
- Atanas Christev & Allen Featherstone, 2005. "A Note on Allen-Uzawa Partial Elasticities of Substitution: The Case of the Translog Cost Function," Working Papers E03, Department of Economics, School of Management and Languages, Heriot Watt University.
- C13 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Estimation: General
- C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection
- D20 - Microeconomics - - Production and Organizations - - - General
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