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Measuring excess capital capacity in agricultural production

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The elasticity of substitution : evidence from a UK firm-level data set

Barnes, Sebastian (contributor); Price, Simon (contributor); … - 2008

Using a panel of UK firms spanning three decades, we provide estimates of the long-run elasticity of substitution between capital and other factors of production, the (negative of the) elasticity of capital and investment with respect to the user cost. The parameter is estimated using 'time...