Browsing FAS Scholarly Articles by Keyword "capital-labor substitution"
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Is the U.S. Aggregate Production Function Cobb-Douglas? New Estimates of the Elasticity of Substitution
(Berkeley Electronic Press, 2004)I present new estimates of the elasticity of substitution between capital and labor using data from the private sector of the U.S. economy for the period 1948-1998. I first adopt Berndt’s (1976) specification, which ...