We show that the large elasticity of substitution between capital and labor estimated in the literature on average, 0 … capital. The mean elasticity conditional on the absence of publication bias, disaggregated data, and inclusion of informa …- tion from the first-order condition for capital is 0.3. To obtain this result, we collect 3,186 estimates of the elasticity …

We show that the large elasticity of substitution between capital and labor estimated in the literature on average, 0 … capital. The mean elasticity conditional on the absence of publication bias, disaggregated data, and inclusion of information … from the first-order condition for capital is 0.3. To obtain this result, we collect 3,186 estimates of the elasticity …

We show that the large elasticity of substitution between capital and labor estimated in the literature on average, 0 … capital. The mean elasticity conditional on the absence of publication bias, disaggregated data, and inclusion of information … from the first-order condition for capital is 0.3. To obtain this result, we collect 3,186 estimates of the elasticity …

Cointegration analysis is applied to the linear combinations of the time series of (the logarithms of) output, capital … production factors capital, labor, and energy. We find that they are for labor much smaller and for energy much larger than the … cost shares of these factors. In standard economic theory output elasticities equal cost shares. Our heterodox findings …

capital and labor, but also on changes in the allocation of these inputs across firms. As the latter effects are neglected in … that changes in allocation of capital and labor have pronounced effects on GDP-growth for most European countries. Further …. -- aggregation of production functions ; distribution of capital and labor ; firm heterogeneity ; growth accounting ; structural …