Antràs, Pol - In: Contributions to Macroeconomics 4 (2004) 1, pp. 1161-1161
I present new estimates of the elasticity of substitution between capital and labor using data from the private sector of the U.S. economy for the period 1948-1998. I first adopt Berndt's (1976) specification, which assumes that technological change is Hicks neutral. Consistently with his...