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Autor:innen: 
Erscheinungsjahr: 
2001
Schriftenreihe/Nr.: 
New Zealand Treasury Working Paper No. 01/31
Verlag: 
New Zealand Government, The Treasury, Wellington
Zusammenfassung: 
Using the capital stock series recently released by Statistics New Zealand, two approaches have been employed to estimate a production function. The first approach is based on the estimation of a constant elasticity of substitution (CES) production function with a value added form. The second approach is based on a nested CES function. Using the nested structure, we allow imports as an intermediate input in the production block. The estimated results reveal that the data rejects the Cobb-Douglas specification and the use of the value added form is not justifiable.
Schlagwörter: 
CES production function
Cobb-Douglas specification
JEL: 
C51
E23
Creative-Commons-Lizenz: 
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Dokumentart: 
Working Paper

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