Calibration of normalised CES production functions in dynamic models
Normalising CES production functions allows to choose technology parameters of dynamic models in a plausible way and excludes arbitrary effects of changes in the elasticity of substitution. As an illustration, the speed of convergence in the Ramsey model is considered.
Year of publication: |
2008
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Authors: | Klump, Rainer ; Saam, Marianne |
Published in: |
Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 99.2008, 2, p. 256-259
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Publisher: |
Elsevier |
Saved in:
Online Resource
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