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The Application of a Random Coefficient Model to the Problem of Estimating Aggregate Production Parameters

Author

Listed:
  • Vern Caddy

Abstract

This 1977 paper is about estimating elasticities for the ORANI model -- in particular the elasticity of substitution between capital and labour. Literature is surveyed, and a theoretical approach outlined. Then data and regression results are briefly discussed. From cross-sectional data, the average elasticity of substitution between capital and labour for Australian manufacturing is estimated to be 1.28. Please note: The PDF download of this fairly old paper is an optical scan of indifferent, but legible, quality

Suggested Citation

  • Vern Caddy, 1977. "The Application of a Random Coefficient Model to the Problem of Estimating Aggregate Production Parameters," Centre of Policy Studies/IMPACT Centre Working Papers op-10, Victoria University, Centre of Policy Studies/IMPACT Centre.
    • Handle: RePEc:cop:wpaper:op-10
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    File URL: https://www.copsmodels.com/ftp/workpapr/op-10.pdf
    File Function: Initial version, 1977-03
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    File URL: https://www.copsmodels.com/elecpapr/op-10.htm
    File Function: Local abstract: may link to additional material.
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    Citations

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    Cited by:

    1. Stoeckel, A., 1984. "An Intersectoral Approach To Agricultural Policy," 1984 Annual Meeting, August 5-8, Ithaca, New York 279079, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    2. Stoeckel, Andrew B., 1979. "Some General Equilibrium Effects Of Mining Growth On The Economy," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 23(1), pages 1-22, April.

    More about this item

    Keywords

    Production functions;

    JEL classification:

    • J23 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Demand
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • C20 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - General

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