Kumbhakar, Subal C.; Heshmati, Almas; Hjalmarsson, Lennart - Economics Institute for Research (SIR), … - 2000
This paper deals with a dynamic adjustment process in which adjustment of a key variable input (labor) towards its desired level is modeled in a panel data context. The partial adjustment type model is extended to incorporate firm- and time-specific adjustment parameter. A flexible (translog)...