Article ID Journal Published Year Pages File Type
5062182 Economics Letters 2008 4 Pages PDF
Abstract
Normalising CES production functions allows to choose technology parameters of dynamic models in a plausible way and excludes arbitrary effects of changes in the elasticity of substitution. As an illustration, the speed of convergence in the Ramsey model is considered.
Keywords
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
Preview
Calibration of normalised CES production functions in dynamic models
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