Price deflators and the estimation of the production function
Price deflators and the estimation of the production function
The use of industry indices to deflate nominal revenues and expenditure in intermediary inputs has been found to lead to lower scale estimates of production function. This paper proposes a new approach to solve the estimation biases due to the use of industry deflators which relies on the use of the firms' labour cost.
production function, price deflators
168-171
Ornaghi, Carmine
33275e47-4642-4023-a195-39c91d0146b0
April 2008
Ornaghi, Carmine
33275e47-4642-4023-a195-39c91d0146b0
Abstract
The use of industry indices to deflate nominal revenues and expenditure in intermediary inputs has been found to lead to lower scale estimates of production function. This paper proposes a new approach to solve the estimation biases due to the use of industry deflators which relies on the use of the firms' labour cost.
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e-pub ahead of print date: 30 June 2007
Published date: April 2008
Keywords:
production function, price deflators
Organisations:
Economics
Identifiers
Local EPrints ID: 155517
URI: http://eprints.soton.ac.uk/id/eprint/155517
ISSN: 0165-1765
PURE UUID: 36e56e8a-9edb-46dc-a242-2c3780b371c3
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Date deposited: 28 May 2010 08:28
Last modified: 14 Mar 2024 02:49
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