substitution between capital and labor. Our focus is on the two-input constant elasticity of substitution (CES) production function … the CES production function. Second, we outline the construction of an aggregate elasticity of substitution (AES) in a …This paper reviews the status quo of the empirical and theoretical literature on the determinants of the elasticity of …

exogenous. The constant elasticity of substitution (CES) (Arrow et al., 1961) production function has predominantly been used to … capital-labor ratio and σ vary over time. I use a variable elasticity of substitution (VES) production framework that allows …

substitution between goods at each point in time and (ii) a constant intertemporal elasticity of substitution for at least one of … and only if it either is of the intertemporal constant elasticity of substitution (ICES) form, that is, if all …We characterize intertemporal utility functions over heterogeneous goods that feature (i) a constant elasticity of …

the elasticity of substitution between capital and labor. Our focus is on the two-input constant elasticity of … elasticity of substitution (AES) in a multi-sectoral framework and investigate its dependence on underlying sectoral elasticities … the effective elasticity of substitution (EES), which is typically estimated in empirical studies, is generally not an …

Simultaneity represents a fundamental problem when estimating the elasticity of substitution between capital and labour … problem of estimating the elasticity of substitution between capital and labour. We propose a pooled GMM (PGMM) estimator … elasticity of substitution to be 1.8 using P-GMM and 1.0 using a fixed effects estimator. Hence, neglecting simultaneity may lead …