Estimation and Analysis with a WDI Production Function
AbstractBy means of a new type of production function - the WDI function – an examination has been made of the production structure in thirteen branches of Swedish manufacturing industry. The function used which is the same in all thirteen branches, allows for variable elasticity of substitution and gives us a possibility of distinguishing different types of bias 1n technological development. It was found for instance that the hypothesis on Hicks neutrality can be dismissed for most branches. The data material used contains both production data (i.e. observations regarding capital, labour and production) and observations of the factor income shares. A "Full Information Maximum Likelihood (FIML)" method was used for estimation.
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Bibliographic InfoPaper provided by Research Institute of Industrial Economics in its series Working Paper Series with number 8.
Length: 20 pages
Date of creation: Dec 1976
Date of revision:
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Postal: Research Institute of Industrial Economics, Box 55665, SE-102 15 Stockholm, Sweden
Phone: +46 8 665 4500
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Manufacturing; Production structure;
Find related papers by JEL classification:
- L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
- L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General
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