The Calibration of CES Production Functions
نویسنده
چکیده
This note addresses some issues that arise when using “normalized” CES production functions, an approach that has become popular in the literature. The results of Klump and de La Grandville (2000) provide a simple way to calibrate the parameters of the CES production function when the necessary data are available. But some of the other applications of normalized CES production functions appear problematic, especially when used to argue that productivity is increasing in the elasticity of substitution.
منابع مشابه
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تاریخ انتشار 2008