Karanassou, Marika (contributor); Sala, Hector (contributor) - 2008
debate in Australia on the (constant-output) elasticity of labour demand with
respect to wages has wrongly sidelined the role … studies to estimate labour demand equations with
output, rather than capital stock, as an explanatory variable. However …, Webster (2003) ar-
gues that “...there is no theoretical reason why the estimating function should include output
as an …