Dynamic Factor Demands and Technology Measurement under Arbitrary Expectations

Pierre Lasserre and Pierre Ouellette

Journal of Productivity Analysis, 1999, vol. 11, issue 3, 219-241

Abstract: We present a dynamic model of factor demands based on expected discounted costs minimization. While making only very mild assumptions on expectations and technology, we are able to establish a duality relationship between contemporary factor demands and the technology, and we provide formula for easily recovering marginal products, returns to scale, and technological change from estimated factor demands. Parametrization and implementation are illustrated in a detailed example. Copyright Kluwer Academic Publishers 1999

Keywords: Dynamic duality; Investment; Expectations; Expected future cost function; Factor demands; Returns to scale; Technological change (search for similar items in EconPapers)
Date: 1999
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Citations: View citations in EconPapers (9)

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Working Paper: Dynamic Factor Demands and Technology Measurement under Arbitrary Expectations (1999)
Working Paper: Dynamic Factor Demands and Technology Measurement Under Arbitrary Expectations (1995)
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Persistent link: https://EconPapers.repec.org/RePEc:kap:jproda:v:11:y:1999:i:3:p:219-241

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DOI: 10.1023/A:1007790020454

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