Table 24.3:
Input elasticities and inverse input elasticities.
GMM estimates of level equations, with all IV’s in differences.
No mean deduction
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 β Lx |
^ |
b β Lxy |
-~⅛- |
βeLy |
X 2( β Lx ) |
X2(βeLy) |
|
ln M, ln Q |
0.9308 |
0.9325 |
0.9274 |
0.9351 |
0.9404 |
56.76 |
81.49 |
|
(0.0031) |
(0.0052) |
(0.0036) |
(0.0024) |
(0.0022) |
(0.1557) |
(0.0013) | |
|
lnQ,lnM |
1.0718 |
1.0743 |
1.0772 |
1.0628 |
1.0690 |
80.64 |
56.69 |
|
(0.0060) |
(0.0035) |
(0.0039) |
(0.0025) |
(0.0028) |
(0.0016) |
(0.1572) | |
|
lnK,lnQ |
0.7408 |
0.7355 |
0.7381 |
0.7505 |
0.7502 |
107.05 |
116.19 |
|
(0.0079) |
(0.0079) |
(0.0072) |
(0.0059) |
(0.0055) |
(0.0000) |
(0.0000) | |
|
ln Q, ln K |
1.3533 |
1.3483 |
1.3490 |
1.3211 |
1.3231 |
115.18 |
106.84 |
|
(0.0145) |
(0.0144) |
(0.0129) |
(0.0097) |
(0.0105) |
(0.0000) |
(0.0000) | |
|
Wood and Wood Products: N = |
603, T =8 | ||||||
|
y, x |
b β Lx |
^ |
b β Lxy |
-~⅛- |
βeLy |
X 2( β Lx ) |
X2(βeLy) |
|
ln M, ln Q |
0.9473 |
0.9469 |
0.9471 |
0.9484 |
0.9496 |
141.10 |
159.95 |
|
(0.0011) |
(0.0011) |
(0.0011) |
(0.0010) |
(0.0010) |
(0.0000) |
(0.0000) | |
|
ln Q, ln M |
1.0561 |
1.0557 |
1.0558 |
1.0529 |
1.0543 |
159.80 |
141.07 |
|
(0.0013) |
(0.0012) |
(0.0012) |
(0.0011) |
(0.0011) |
(0.0000) |
(0.0000) | |
|
lnK,lnQ |
0.7545 |
0.7560 |
0.7546 |
0.7598 |
0.7699 |
207.64 |
272.33 |
|
(0.0030) |
(0.0033) |
(0.0029) |
(0.0027) |
(0.0029) |
(0.0000) |
(0.0000) | |
|
ln Q, ln K |
1.3197 |
1.3244 |
1.3221 |
1.2927 |
1.3124 |
270.29 |
207.00 |
|
(0.0056) |
(0.0053) |
(0.0050) |
(0.0049) |
(0.0046) |
(0.0000) |
(0.0000) | |
38