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data: a constant cost share of capital and strong co-movement in labor productivity and capital productivity (revenue per … capital share and labor productivity increase with revenue, but capital productivity does not. A CES production function with … productivity differences are no longer neutral, which has implications on how productivity affects firms’ decisions to expand or …
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I estimate CES aggregate production functions for the US, the UK, Japan, Germany, and Spain using data from the EU KLEMS database. I distinguish between three types of capital: information and communication technologies (ICT), intellectual property (IP) capital, and traditional capital. I assume...
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This paper performs a nonlinear estimation of a normalized CES production function within a system of equations with a panel of Spanish regions for the period 1964-2013. It obtains an elasticity of substitution below one and identifies different rates of factor-augmenting technical progress. The...
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