Herrendorf, Berthold; Herrington, Christopher; … - 2012
-augmenting technological progress, capital intensity, and substitutability between capital and labor. We estimate CES production functions for … agriculture, manufacturing, and services on postwar US data and compare them with Cobb-Douglas production functions with different … force behind the trends in observed relative prices and sectoral labor. As a result, sectoral Cobb-Douglas production …