Handling the measurement error problem by means of panel data: Moment methods applied on firm data



Table 24.1:

Input elasticities and inverse input elasticities.

Standard OLS, Between Period, and Within Firm estimates

Q = output, M = materials, K = capital

Cols. 1-3: Equation in levels.

Cols. 4-6: Equation in differences, with intercept.

Cols.7-8: Equation in differences, without intercept

Textiles: N = 215, T =8

y, x

b

βOLS

b
βBP

b
βWF

b

βOLSDC

b

βBPDC

b

βWFDC

β ∆7

b

βOLSD

lnM, lnQ

1.1450

1.0028

1.1033

1.1683

1.0935

1.1750

1.0204

1.1608

lnQ, lnM

0.7889

0.9859

0.7005

0.5786

0.8742

0.5696

0.9800

0.5894

ln K, ln Q

0.9899

1.0351

0.6081

0.1621

-0.0170

0.1099

1.5176

0.2313

lnQ, lnK

0.6751

0.6018

0.3281

0.0852

-0.1584

0.0563

0.6589

0.1203

Wood and Wood Products: N

= 603, T

=8

y, x

b

βOLS

b
βBP

b
βWF

b

βOLSDC

b

βBPDC

b

βWFDC

β ∆7

b

βOLSD

lnM, lnQ

1.0940

1.0535

1.0747

1.1062

1.0635

1.1106

1.0779

1.1046

lnQ, lnM

0.8940

0.9477

0.8127

0.6981

0.9290

0.6869

0.9277

0.7078

ln K, ln Q

0.9843

1.3865

0.6858

0.2111

0.1081

0.1855

1.7914

0.3004

lnQ, lnK

0.7816

0.5566

0.3476

0.1272

0.8143

0.1089

0.5582

0.1719

34



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