Calibration of normalised CES production functions in dynamic models
Rainer Klump and
Economics Letters, 2008, vol. 99, issue 2, 256-259
Normalising CES production functions allows to choose technology parameters of dynamic models in a plausible way and excludes arbitrary effects of changes in the elasticity of substitution. As an illustration, the speed of convergence in the Ramsey model is considered.
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Working Paper: Calibration of normalised CES production functions in dynamic models (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:99:y:2008:i:2:p:256-259
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