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The Application of a Random Coefficient Model to the Problem of Estimating Aggregate Production Parameters

Vern Caddy

Centre of Policy Studies/IMPACT Centre Working Papers from Victoria University, Centre of Policy Studies/IMPACT Centre

Abstract: This 1977 paper is about estimating elasticities for the ORANI model -- in particular the elasticity of substitution between capital and labour. Literature is surveyed, and a theoretical approach outlined. Then data and regression results are briefly discussed. From cross-sectional data, the average elasticity of substitution between capital and labour for Australian manufacturing is estimated to be 1.28. Please note: The PDF download of this fairly old paper is an optical scan of indifferent, but legible, quality

Keywords: Production; functions (search for similar items in EconPapers)
JEL-codes: J23 D24 C20 (search for similar items in EconPapers)
Date: 1977-03
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https://www.copsmodels.com/ftp/workpapr/op-10.pdf Initial version, 1977-03 (application/pdf)
https://www.copsmodels.com/elecpapr/op-10.htm Local abstract: may link to additional material. (text/html)

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Persistent link: https://EconPapers.repec.org/RePEc:cop:wpaper:op-10

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