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Identifying the elasticity of substitution between capital and labour : a pooled GMM panel estimator

Brasch, Thomas von; Raknerud, Arvid; Vigtel, Trond C. - 2022

Simultaneity represents a fundamental problem when estimating the elasticity of substitution between capital and labour. To overcome this problem, a wide variety of external instruments has been applied in the literature. However, the use of instruments may lead to wrong inference if they are...

Persistent link: https://www.econbiz.de/10013162412

Another look at panel estimates of the elasticity of substitution between capital and labor

Mello, Marcelo de Albuquerque e - In: Brazilian review of econometrics : BRE ; the review of … 37 (2017) 2, pp. 267-295

Persistent link: https://www.econbiz.de/10011996044

Steady-state growth and the elasticity of substitution

Irmen, Andreas - 2010 - This version: February 9, 2010.

In a neoclassical economy with endogenous capital- and labor-augmenting technical change the steady-state growth rate of output per worker is shown to increase in the elasticity of substitution between capital and labor. This confirms the assessment of Klump and de La Grandville (2000) that the...

Persistent link: https://www.econbiz.de/10003931235

Factor substitution, income distribution, and growth in a generalized neoclassical model

Irmen, Andreas; Klump, Rainer - 2007 - This Version: October 16, 2007

We analyze a generalized neoclassical growth model that combines a normalized CES production function and possible asymmetries of savings out of factor incomes. This generalized model helps to shed new light on a recent debate concerning the impact of factor substitution and income distribution...

Persistent link: https://www.econbiz.de/10003592897

Is substitutability the new efficiency? : endogenous investment in the elasticity of substitution between clean and dirty energy

Stöckl, Fabian - 2020

When analyzing potential ways to counter climate change, standard models of green growth abstract from investment in … fuels can be increased perpetually. However, this is not in line with observed firm investment behavior and the limits to … investment to increase input substitutability, in addition to investment in efficiency. The model predicts that, for a growing …

Persistent link: https://www.econbiz.de/10012257316