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An empirical estimation of regional production functions for the U.S. manufacturing industry

Author

Listed:
  • Yu Hsing

    (Department of Economics and Business Research, Southeastern Louisiana University, College of Business, SLU 813, Hammond, LA 70402, USA)

Abstract

Five different production functions for 50 states and the District of Columbia in the U.S. are estimated and compared based on the 1987 data from the Census of Manufacturers. The Cobb-Douglas function can be rejected. The CES yields a negative value of the elasticity of substitution (). In the translog function, the coefficient of logKt has a wrong sign and is insignificant. The coefficient of Kt0.5Lt0.5 in the generalized Leontief function is insignificant at the 5% level. It appears that the new CES function (Bairam, 1989, 1991) yields the best statistical results: is estimated to be 1.56, and total output elasticity ranges from 0.85 to 1.12, which can partly be explained by different values of the K/L ratio.

Suggested Citation

  • Yu Hsing, 1996. "An empirical estimation of regional production functions for the U.S. manufacturing industry," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 30(4), pages 351-358.
    • Handle: RePEc:spr:anresc:v:30:y:1996:i:4:p:351-358
    Note: Received: July 1994 / Accepted in revised form: October 1995
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    Cited by:

    1. Nguyen Ngoc Thach, 2020. "How to Explain When the ES Is Lower Than One? A Bayesian Nonlinear Mixed-Effects Approach," JRFM, MDPI, vol. 13(2), pages 1-17, February.
    2. Wu, Wei-Ming & Lin, Tsan-Hwan, 2015. "Selection behavior of the global container shipping industry for carrier-owned and leased containers," Transport Policy, Elsevier, vol. 37(C), pages 11-19.
    3. Frauke G. Braun & Astrid Cullmann, 2008. "Key Parameters and Efficiency of Mexican Manufacturing: Are There Still Differences between the North and the South? An Application of Nested and Stochastic Frontier Panel Data Models," Discussion Papers of DIW Berlin 816, DIW Berlin, German Institute for Economic Research.
    4. Steffen Mueller, 2008. "Capital stock approximation using firm level panel data," Working Papers 038, Bavarian Graduate Program in Economics (BGPE).
    5. Lumengo Bonga‐bonga, 2009. "The South African Aggregate Production Function: Estimation Of The Constant Elasticity Of Substitution Function," South African Journal of Economics, Economic Society of South Africa, vol. 77(2), pages 332-349, June.
    6. Nicholas Apergis & Stephen M. Miller, 2007. "Total Factor Productivity and Monetary Policy: Evidence from Conditional Volatility," International Finance, Wiley Blackwell, vol. 10(2), pages 131-152, July.
    7. Mueller Steffen, 2008. "Capital Stock Approximation using Firm Level Panel Data: A Modified Perpetual Inventory Approach," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 228(4), pages 357-371, August.

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