Table 24.2:
Input elasticities and inverse input elasticities.
GMM estimates of differenced equations, with all IV’s in levels
Q = output, M = materials, K = capital
In parenthesis: Cols. 1-5: Standard deviation estimates. Cols. 6-7: p values
Textiles: N = 215, T =8
|
y, x |
b βDx |
b βDy |
b β Dxy |
-~⅛- |
-~⅛- |
X 2( β Dx ) |
X2(βeDy) |
|
ln M, ln Q |
1.0821 |
1.1275 |
1.0900 |
1.0546 |
1.0825 |
51.71 |
70.39 |
|
(0.0331) |
(0.0346) |
(0.0350) |
(0.0173) |
(0.0169) |
(0.2950) |
(0.0152) | |
|
lnQ,lnM |
0.8404 |
0.8931 |
0.8064 |
0.8917 |
0.9244 |
86.55 |
59.08 |
|
(0.0283) |
(0.0283) |
(0.0363) |
(0.0143) |
(0.0148) |
(0.0004) |
(0.1112) | |
|
ln K, ln Q |
0.5095 |
0.6425 |
0.5004 |
0.5239 |
0.6092 |
115.68 |
121.29 |
|
(0.0735) |
(0.0700) |
(0.0745) |
(0.0407) |
(0.0314) |
(0.0000) |
(0.0000) | |
|
lnQ, lnK |
0.4170 |
0.6391 |
0.4021 |
0.4499 |
0.6495 |
130.50 |
133.94 |
|
(0.0409) |
(0.0561) |
(0.0382) |
(0.0248) |
(0.0330) |
(0.0000) |
(0.0000) | |
|
Wood and Wood Products: N = |
603, T =8 | ||||||
|
y, x |
b β Dx |
b βDy |
b β Dxy |
-~⅛- |
-~⅛- |
X 2( β Dx ) |
X2(βeDy) |
|
ln M, ln Q |
1.0604 |
1.0784 |
1.0632 |
1.0615 |
1.0772 |
63.97 |
90.28 |
|
(0.0123) |
(0.0124) |
(0.0128) |
(0.0089) |
(0.0098) |
(0.0502) |
(0.0002) | |
|
lnQ,lnM |
0.9171 |
0.9362 |
0.9117 |
0.9195 |
0.9370 |
91.40 |
64.13 |
|
(0.0106) |
(0.0108) |
(0.0115) |
(0.0083) |
(0.0078) |
(0.0001) |
(0.0489) | |
|
ln K, ln Q |
0.7454 |
0.8906 |
0.7494 |
0.8094 |
0.9398 |
290.60 |
281.57 |
|
(0.0409) |
(0.0439) |
(0.0425) |
(0.0305) |
(0.0310) |
(0.0000) |
(0.0000) | |
|
ln Q, ln K |
0.4862 |
0.6003 |
0.4806 |
0.5261 |
0.6377 |
283.25 |
280.65 |
|
(0.0229) |
(0.0258) |
(0.0223) |
(0.0189) |
(0.0212) |
(0.0000) |
(0.0000) | |
36