We show that the large elasticity of substitution between capital and labor estimated in the literature on average, 0 … capital. The mean elasticity conditional on the absence of publication bias, disaggregated data, and inclusion of information … from the first-order condition for capital is 0.3. To obtain this result, we collect 3,186 estimates of the elasticity …

We show that the large elasticity of substitution between capital and labor estimated in the literature on average, 0 … capital. The mean elasticity conditional on the absence of publication bias, disaggregated data, and inclusion of information … from the first-order condition for capital is 0.3. To obtain this result, we collect 3,186 estimates of the elasticity …

We show that the large elasticity of substitution between capital and labor estimated in the literature on average, 0 … capital. The mean elasticity conditional on the absence of publication bias, disaggregated data, and inclusion of informa …- tion from the first-order condition for capital is 0.3. To obtain this result, we collect 3,186 estimates of the elasticity …