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Translog ou Cobb-Douglas? Le rôle des durées d'utilisation des facteurs

  • Eric Heyer
  • Florian Pelgrin
  • Arnaud Sylvain

Using French data on industrial firms over the period 1989-2001, the authors estimate a "flexible" Translog 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. The authors show that duration of capital utilization is statistically significant and that the dynamic common-factor representation cannot be rejected. Furthermore, the duration of work is not statistically significant. Finally, the authors cannot reject the assumption of a Cobb-Douglas technology. Their result can be explained by the fact that durations of factor utilization are explicitly taken into consideration in the production function. Otherwise, the Translog specification is preferred to the Cobb-Douglas production function.

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Paper provided by Bank of Canada in its series Working Papers with number 04-19.

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Length: 45 pages
Date of creation: 2004
Date of revision:
Handle: RePEc:bca:bocawp:04-19
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  6. Richard Blundell & Steve Bond, 1995. "Initial conditions and moment restrictions in dynamic panel data models," IFS Working Papers W95/17, Institute for Fiscal Studies.
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  16. Blackorby, Charles & Russell, R Robert, 1989. "Will the Real Elasticity of Substitution Please Stand Up? (A Comparison of the Allen/Uzawa and Morishima Elasticities)," American Economic Review, American Economic Association, vol. 79(4), pages 882-88, September.
  17. P. BISCOURP & Ch. GIANELLA, 2001. "Substitution and complementarity between capital, skilled and less skilled workers: an analysis at the firm level in the French manufacturing industry," Documents de Travail de la DESE - Working Papers of the DESE g2001-13, Institut National de la Statistique et des Etudes Economiques, DESE.
  18. Frondel, Manuel, 2004. "Empirical assessment of energy-price policies: the case for cross-price elasticities," Energy Policy, Elsevier, vol. 32(8), pages 989-1000, June.
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