We study Ackerberg, Caves, and Frazer (2015)'s production function estimation method using Monte Carlos simulations. First, we replicate their results by using the same procedure and confirm the existence, as noted by ACF, of a spurious minimum in the estimation. In the population, or when the...

This supplementary material contains additional calculations and related explanations, including a table of logarithmically modified Laplace transform, and details of economic applications. The paper to which these Appendices apply is available at the following URL:...

We present functional forms allowing a broader range of analytic solutions to common economic equilibrium problems. These can increase the realism of pen-and-paper solutions or speed large-scale numerical solutions as computational subroutines. We use the latter approach to build a tractable...

This article estimates a state-contingent production frontier for a group of farms while endogenously estimating the number of states of nature induced by unobserved environmental variables. This estimation is conducted by using a Birth-Death Markov Chain Monte Carlo method. State-contingent...

This paper reviews the evidence on the importance of human capital for macro-economic development. Through the lens of a simple aggregate production function, human capital might increase output per capita by directly entering in the production process, incentivising the accumulation of...