The Application of a Random Coefficient Model to the Problem of Estimating Aggregate Production Parameters
AbstractThis 1977 paper is about estimating elasticities for the ORANI model -- in particular the elasticity of substitution between capital and labour. Literature is surveyed, and a theoretical approach outlined. Then data and regression results are briefly discussed. From cross-sectional data, the average elasticity of substitution between capital and labour for Australian manufacturing is estimated to be 1.28. Please note: The PDF download of this fairly old paper is an optical scan of indifferent, but legible, quality
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Bibliographic InfoPaper provided by Victoria University, Centre of Policy Studies/IMPACT Centre in its series Centre of Policy Studies/IMPACT Centre Working Papers with number op-10.
Date of creation: Mar 1977
Date of revision:
Find related papers by JEL classification:
- J23 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Demand
- D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
- C20 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - General
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