Estimating Gross Output Production Functions

Markus Trunschke and Kenneth Judd

No 33205, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: This paper develops a novel method to estimate production functions. Earlier papers rely on special assumptions about the functional form of production functions. Our approach efficiently estimates all parameters of any production functions with Hicks-neutral productivity without additional exogenous variables or sources of variation in flexible input demand. We provide Monte Carlo Simulation evidence of our method’s performance and test our approach on empirical data from Chilean and Colombian manufacturing industries.

JEL-codes: C02 D24 L0 (search for similar items in EconPapers)
Date: 2024-11
New Economics Papers: this item is included in nep-ecm and nep-eff
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