Publication:
CES production function: estimates of elasticity of substitution, returns to scale and technical progress in Australian manufacturing industries
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Date
1984
Authors
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Abstract
This paper attempts to estimate (i) the elasticity of substitution between capital and labour (ii) returns to scale and (iii) Hicks-neutral disembodIed technical progress in Australian twelve (two digit) manufacturing industries as well as total manufacturing during the period 1968/69 through 1977/78. The method employed to derive the above estimates was the constant elasticity of substitution (C.E.S.) production function. Time series data have been used in that connection. Subject to the limitations of the study, the relative orders of magnitude of the estimates appear to be plausible.
Keywords
Elasticity , Capital , Labour , Constant elasticity of substitution (C.E.S.)
Citation
Mohammed Masih, Abul Mansur. (1984). CES production function: estimates of elasticity of substitution, returns to scale and technical progress in Australian manufacturing industries. Economic Analysis and Policy, 14 (1), pp. 30-46.
Publisher
Elsevier B.V.