Elasticity of factor substitution is one of the key parameters of any computational general equilibrium model. Despite … transition economies in Europe. To fill this gap, we estimate the elasticity of substitution between Capital, Labour, Energy and … Material in the constant elasticity of substitution (CES) production function. We use a non-linear estimation technique to …

aggregate elasticity of substitution but also for the parameters of labor and capital augmenting technical change. We find that … the elasticity of substitution is significantly below unity and that the growth rates of technical progress show an …

endogenous saving rate when technology takes the Constant Elasticity of Substitution (CES) form. For a factor substitution …

factors and sectors, but also heterogeneity in the sectoral elasticity of substitution between capital and labor. The fact …