CORRECTING FOR BIASES WHEN ESTIMATING PRODUCTION FUNCTIONS: AN ILLUSION OF THE LAWS OF ALGEBRA?

this paper argues that the true cause of the endogeneity bias that allegedly appears when estimating production functions, and which the literature has tried to deal with since the 1940s, is s imply the result of omitted-variable bias due to an incorrect approximation to an accounting identity. As a result we question recent attempts to solve the problem by developing new estimators.

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Year of publication:	2004-11
Authors:	Felipe, Jesus ; Hasan, Rana ; McCombie, J. S. L.
Institutions:	College of Business and Economics, Australian National University

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Extent:	application/pdf
Series:	CAMA Working Papers.
Type of publication:	Book / Working Paper
Notes:	23 pages
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005245710