Estimating Production Functions with Fixed Effects

I propose an estimation procedure that can accommodate fixed effects in the widely used proxy variable approach to estimating production functions. The proposed procedure allows unobserved productivity to have a permanent component in addition to a (nonlinear) Markov shock. In contrast to dynamic panel methods, the procedure does not rely on differencing out the fixed effect and thus is not limited to within-firm variation for identification. Finally, implementation is straightforward since it only entails adding a two stage least squares step using internal instruments

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Year of publication:	2020
Authors:	Abito, Jose Miguel
Publisher:	[2020]: [S.l.] : SSRN
Subject:	Produktionsfunktion \| Production function \| Schätztheorie \| Estimation theory \| Schätzung \| Estimation \| Panel \| Panel study

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