최신자료
Estimating Gross Output Production Functions
This paper develops a novel method to estimate production functions. Earlier papers rely on special assumptions about the functional form of production functions. Our approach efficiently estimates all parameters of any production functions with Hicks-neutral productivity without additional exogenous variables or sources of variation in flexible input demand. We provide Monte Carlo Simulation evidence of our method’s performance and test our approach on empirical data from Chilean and Colombian manufacturing industries.
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