Show simple item record

A CROSS-COUNTRY ESTIMATION OF THE ELASTICITY OF SUBSTITUTION BETWEEN LABOR AND CAPITAL IN MANUFACTURING INDUSTRIES

dc.creatorCLARO,SEBASTIÁN
dc.date2003-08-01
dc.date.accessioned2019-11-14T12:56:16Z
dc.date.available2019-11-14T12:56:16Z
dc.identifierhttps://scielo.conicyt.cl/scielo.php?script=sci_arttext&pid=S0717-68212003012000003
dc.identifier.urihttps://revistaschilenas.uchile.cl/handle/2250/117610
dc.descriptionThis paper presents a simple methodology to estimate the elasticity of substitution between labor and capital for firms operating in perfectly competitive factor markets with constant-elasticity-of-substitution technologies. It is applied to a cross-country sample of 28 3-digit ISIC manufacturing industries. The econometric procedure relies on measures of sectorial capital stock, that are estimated for 34 countries in 1990. Unlike previous studies, the estimates are compatible with international technology differences. The results reveal that in most industries the elasticity of substitution is close to one. However, the null hypothesis of Cobb-Douglas production functions is in general rejected
dc.formattext/html
dc.languageen
dc.publisherInstituto de Economía, Pontificia Universidad Católica de Chile
dc.relation10.4067/S0717-68212003012000003
dc.rightsinfo:eu-repo/semantics/openAccess
dc.sourceCuadernos de economía v.40 n.120 2003
dc.subjectElasticity of Substitution
dc.subjectInternational Technology Differences
dc.titleA CROSS-COUNTRY ESTIMATION OF THE ELASTICITY OF SUBSTITUTION BETWEEN LABOR AND CAPITAL IN MANUFACTURING INDUSTRIES


This item appears in the following Collection(s)

Show simple item record