, especially when the approach is said to isolate the theoretical effects of varying the elasticity of substitution. …

large flat areas, the discontinuity of the CES function where the elasticity of substitution is one, and possibly … significant rounding errors where the elasticity of substitution is close to one. We suggest three (combinable) solutions that …

study provides industry-level parameter estimates of two-level constant elasticity of substitution (CES) functions that …

the product market, and provides estimates of the elasticity of substitution under such product market imperfections. We … focus on Spain and the US and show that the elasticity of substitution is above one in Spain and below one in the US. We … also show that the price markup drives the elasticity of substitution away from one, upwards in Spain, downwards in the US …

elasticity of substitution across goods, the elasticities of substitution across varieties of each good, and the good …, the elasticity of substitution estimates are lower across both goods and varieties, while the elasticity of distance …

Purpose – Although the importance of the elasticity of substitution between capital and labour (s) has been recognized … constant elasticity of substitution (CES) production function in both theoretical and empirical growth research. Originality …/value – This paper offers a new perspective on the elasticity of substitution between capital and labour due to its evaluation of …

negative effects on all of the other specific factors in the economy. I estimate the elasticity of substitution by using CES … that the value of the elasticity of substitution along with factor intensity between industries plays an important role in …