ESTIMATION OF CES PRODUCTION FUNCTIONS FOR US MANUFACTURING BY INPUT-OUTPUT SECTOR.
INSTITUTE FOR DEFENSE ANALYSES ARLINGTON VA PROGRAM ANALYSIS DIV
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The report presents estimates of the production functions for United States manufacturing aggregated to input-output sectors. These estimates are based on a cross-section sample of actual capital and labor usage in order to evaluate the potential substitution between these factors. This method was employed as an alternative to examining the substitution of factors by using an engineering approach and aggregating up to the level of input-output sectors. The examination was conducted in such a way that the results obtained could be used in the construction of a model of the real output of the United States economy. Author
- Economics and Cost Analysis