Biørn, Erik; Skjerpen, Terje; Wangen, Knut R. - In: Panel data econometrics : theoretical contributions and …, (pp. 229-258). 2006
Parametric aggregation of heterogeneous micro production technologies is discussed. A four-factor Cobb-Douglas function with normally distributed firm specific coefficients and with log-normal inputs (which agrees well with the available data) is specified. Since, if the number of micro units is...