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Durées d’utilisation des facteurs et fonction de production : une estimation par la méthode des moments généralisés en système

  • Eric Heyer
  • Florian Pelgrin
  • Arnaud Sylvain

Although a number of studies have demonstrated the importance of the degree of factor utilization in economic analysis, the impact of the durations of utilization in a production function remains largely unknown, particularly in terms of the duration of equipment utilization. Using French data on industrial firms over the period 1989–2001, the authors estimate a Cobb-Douglas production function that accounts for the volumes and durations of factor utilization. They draw on the framework proposed by Blundell and Bond (2000), assuming that serially correlated shocks allow a dynamic representation of the production function, and they choose the system-generalized method of moments as the reference estimation method. Their estimates yield identical elasticities for shifts of work and capital: the increase in output resulting from doubling the number of work teams is equivalent to that from doubling the stock of capital. Finally, they cannot reject the null hypothesis of constant returns to scale in their sample.

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Paper provided by Bank of Canada in its series Working Papers with number 04-12.

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Length: 43 pages
Date of creation: 2004
Date of revision:
Handle: RePEc:bca:bocawp:04-12
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  8. Blundell, R. & Bond, S., 1995. "Initial Conditions and Moment Restrictions in Dynamic Panel Data Models," Economics Papers 104, Economics Group, Nuffield College, University of Oxford.
  9. Gilbert Cette, 1990. "Durée d'utilisation des équipements : l'inversion d'une tendance longue," Économie et Statistique, Programme National Persée, vol. 231(1), pages 33-47.
  10. Ziliak, James P, 1997. "Efficient Estimation with Panel Data When Instruments Are Predetermined: An Empirical Comparison of Moment-Condition Estimators," Journal of Business & Economic Statistics, American Statistical Association, vol. 15(4), pages 419-31, October.
  11. Stephen Bond & Céline Nauges & Frank Windmeijer, 2002. "Unit Roots and Identification in Autoregressive Panel Data Models: A Comparison of Alternative Tests," 10th International Conference on Panel Data, Berlin, July 5-6, 2002 C5-4, International Conferences on Panel Data.
  12. M. Ishaq Nadiri & Sherwin Rosen, 1974. "A Disequilibrium Model of Demand for Factors of Production," NBER Books, National Bureau of Economic Research, Inc, number nadi74-1, June.
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  14. Frank Windmeijer, 2000. "A finite sample correction for the variance of linear two-step GMM estimators," IFS Working Papers W00/19, Institute for Fiscal Studies.
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  21. Martial DUPAIGNE, 2002. "Travail posté et durée d’utilisation des équipements dans les fluctuations économiques," Annales d'Economie et de Statistique, ENSAE, issue 66, pages 235-256.
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  24. Éric Heyer & Simon Cueva, 1997. "Fonction de production et degrés d'utilisation du capital et du travail : une analyse économétrique," Économie et Prévision, Programme National Persée, vol. 131(5), pages 93-111.
  25. Jacques Mairesse & Bronwyn H. Hall, 1996. "Estimating the Productivity of Research and Development: An Exploration of GMM Methods Using Data on French & United States Manufacturing Firms," NBER Working Papers 5501, National Bureau of Economic Research, Inc.
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