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Calibration of normalised CES production functions in dynamic models

Rainer Klump and Marianne Saam

Economics Letters, 2008, vol. 99, issue 2, 256-259

Abstract: 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.

Date: 2008
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Working Paper: Calibration of normalised CES production functions in dynamic models (2006) Downloads
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