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Cointegration, factor shares, and production function parameters

Bob Chirinko () and Debdulal Mallick ()

Economics Letters, 2011, vol. 112, issue 2, 205-206

Abstract: This note evaluates the usefulness of cointegration relations for estimating production function parameters, as pioneered by Caballero (1994). While using long-run variation to estimate production function parameters is a desirable estimation strategy, this note demonstrates that the Cointegration Model will not be informative for estimating substitution parameters.

Keywords: Production; function; parameters; Factor; substitution; Cointegration (search for similar items in EconPapers)
Date: 2011
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Handle: RePEc:eee:ecolet:v:112:y:2011:i:2:p:205-206