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We characterize intertemporal utility functions over heterogeneous goods that feature (i) a constant elasticity of substitution between goods at each point in time and (ii) a constant intertemporal elasticity of substitution for at least one of the goods. We find that a standard (stationary)...
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This paper performs a nonlinear estimation of a normalized CES production function within a system of equations with a …
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The conventional functional form of the Constant-Elasticity-of-Substitution (CES) production function is a general …–Douglas, and linear production functions. Nevertheless, the conventional form of the CES production specification is still … generalized variant of the CES production function that allows for various input effects on the probability distribution of output …
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