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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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  1. R Blundell & Steven Bond, . "Initial conditions and moment restrictions in dynamic panel data model," Economics Papers W14&104., Economics Group, Nuffield College, University of Oxford.
  2. Fuss, Melvyn & McFadden, Daniel & Mundlak, Yair, 1978. "A Survey of Functional Forms in the Economic Analysis of Production," Histoy of Economic Thought Chapters, in: Fuss, Melvyn & McFadden, Daniel (ed.), Production Economics: A Dual Approach to Theory and Applications, volume 1, chapter 4 McMaster University Archive for the History of Economic Thought.
  3. Stern, David I, 2008. "Elasticities of Substitution and Complementarity," MPRA Paper 12454, University Library of Munich, Germany.
  4. Ryan, David L. & Wales, Terence J., 2000. "Imposing local concavity in the translog and generalized Leontief cost functions," Economics Letters, Elsevier, vol. 67(3), pages 253-260, June.
  5. Douglas Staiger & James H. Stock, 1997. "Instrumental Variables Regression with Weak Instruments," Econometrica, Econometric Society, vol. 65(3), pages 557-586, May.
  6. P. Biscourp & B. Crépon & T. Heckel & N. Riedinger, 2002. "How do firms respond to cheaper computers? Microeconometric evidence for France based on a production function approach," Documents de Travail de la DESE - Working Papers of the DESE g2002-05, Institut National de la Statistique et des Etudes Economiques, DESE.
  7. Terrell, Dek, 1996. "Incorporating Monotonicity and Concavity Conditions in Flexible Functional Forms," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 11(2), pages 179-94, March-Apr.
  8. 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.
  9. Tzouvelekas, Evaggelos, 2000. "Approximation Properties and Estimation of the Translog Production Function with Panel Data," Agricultural Economics Review, Greek Association of Agricultural Economists, vol. 1(1), January.
  10. 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.
  11. 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.
  12. 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.
  13. A. Ronald Gallant & Gene H. Golub, 1982. "Imposing Curvature Restrictions on Flexible Functional Forms," Discussion Papers 538, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  14. Steve Bond & Clive Bowsher & Frank Windmeijer, 2001. "Criterion-based inference for GMM in autoregressive panel-data models," IFS Working Papers W01/02, Institute for Fiscal Studies.
  15. 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.
  16. 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.
  17. Diewert, W E, 1971. "An Application of the Shephard Duality Theorem: A Generalized Leontief Production Function," Journal of Political Economy, University of Chicago Press, vol. 79(3), pages 481-507, May-June.
  18. Dupaigne, Martial, 2001. "Capital utilization and work schedules: the welfare costs of shiftworking," Economics Letters, Elsevier, vol. 73(2), pages 195-200, November.
  19. Konig, Heinz & Pohlmeier, Winfried, 1988. "Employment, Labour Utilization and Procyclical Labour Productivity," Kyklos, Wiley Blackwell, vol. 41(4), pages 551-72.
  20. 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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