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.

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Year of publication:	2008
Authors:	Klump, Rainer ; Saam, Marianne
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 99.2008, 2, p. 256-259
Publisher:	Elsevier

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Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005355702