ESTIMATION OF CES PRODUCTION FUNCTIONS WITH NEUTRAL TECHNICAL CHANGE FOR INDUSTRIAL SECTORS IN THE FEDERAL REPUBLIC OF GERMANY 1958–1968

Joachim Frohn

Review of Income and Wealth, 1972, vol. 18, issue 2, 185-199

Abstract: This paper discusses the estimation of the CES Production Function with Hicks‐neutral technical change, and gives the results of an empirical study based on time series data (quarterly values) for sixteen industrial sectors in the Federal Republic of Germany (including West‐Berlin), 1958–1968. The validity of the basic assumptions of the production model used in this investigation—neutrality of technical change and perfect competition—is tested by estimation of alternative specifications of the equations of this model. For this purpose two different methods of estimation were used.

Date: 1972
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