literatures, states that joint identification of the elasticity of capital-labor substitution and technical bias is infeasible … heart of a Monte Carlo analysis we identify the conditions under which identification is feasible and robust. The key result … in terms of robustly capturing production and technical parameters, especially when merged with "normalization". Our …

revealed, “normalization” of production functions and production-technology systems holds out the promise of resolving many of … normalization (defined by the fixing of baseline values for relevant variables). First, we recall how the normalized CES function … came into existence and what normalization implies for its formal properties. Then we deal with the key role of …

estimated and how shock identification is performed, and compares panel VARs to other approaches used in the literature to deal …

We address the identification of low-frequency macroeconomic shocks, such as technology, in Structural Vector … Autoregressions. Whilst identification issues with long-run restrictions are well documented, we demonstrate that the recent attempt …-run specifications. We offer a new spectral methodology to improve empirical identification. This new preferred methodology offers …