This paper estimates the elasticity of substitution of an aggregate production function. The estimating equation is … variation we estimate the long-run elasticity of substitution. Using various estimation techniques, we find that the elasticity … of substitution is 0.7, which is lower than the elasticity, 1, that is traditionally used in macro-development exercises …

Some recent work on economic growth considers the aggregate elasticity of substitution between capital and labor as a … openness to trade affects the aggregate elasticity of substitution of a large country in a Heckscher-Ohlin model with trade in … the same way as a rise in the elasticity of substitution in their production would. An optimal tariff corresponds to an …

/Lau Elasticity of Substitution (Lau, Production Economics: A Dual Approach to Theory and Applications. Amsterdam: North-Holand (1978 …)). The former is, in fact, the proper elasticity of substitution in the case of the inverse, unconditional input demand. Our …

, into a household portfolio. In particular, we estimate the intertemporal elasticity of substitution (IES), that is, how a …

estimate the intertemporal elasticity of substitution, namely, how a change in the asset or portfolio return affects household …

those of more advanced economies and (ii) that the elasticity of substitution between capital and labor tends to increase …

strength depends on a key parameter, the elasticity of substitution between domestic and foreign goods. Second, while the terms …

elasticity of substitution of international assets across the maturity spectrum. The empirical findings indicate that elasticity … of substitution is indeed a function of maturity. In addition, the premia are found to be a monotonic function of the …