Table 24.4:
Input elasticities and inverse input elasticities.
GMM estimates of level equations, with all IV’s in differences.
With 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 |
,ʌ β Lx |
,ʌ |
,ʌ β Lxy |
-~⅛- |
-~⅛- |
X 2( β Lx ) |
χ2(βeLy) |
|
ln M, ln Q |
1.0219 |
1.2148 |
1.1881 |
1.0739 |
1.1749 |
54.66 |
73.56 |
|
(0.0644) |
(0.1202) |
(0.0786) |
(0.0289) |
(0.0316) |
(0.2065) |
(0.0079) | |
|
lnQ,lnM |
0.7345 |
0.9392 |
0.7048 |
0.7428 |
0.8834 |
64.48 |
52.42 |
|
(0.0730) |
(0.0559) |
(0.0621) |
(0.0225) |
(0.0242) |
(0.0460) |
(0.2720) | |
|
ln K, ln Q |
1.0348 |
1.2201 |
1.0776 |
0.7504 |
1.3279 |
84.43 |
76.36 |
|
(0.1471) |
(0.1514) |
(0.1153) |
(0.0703) |
(0.0808) |
(0.0007) |
(0.0043) | |
|
lnQ, lnK |
0.5967 |
0.7045 |
0.5902 |
0.4599 |
0.6675 |
69.04 |
94.75 |
|
(0.0755) |
(0.1190) |
(0.0682) |
(0.0322) |
(0.0546) |
(0.0198) |
(0.0000) |
Wood and Wood Products: N = 603, T =8
|
y, x |
b β Lx |
^ |
b β Lxy |
-~⅛- |
-~⅛- |
X 2( β Lx ) |
-~⅛- X2(βeLy) |
|
lnM,lnQ |
1.0501 |
1.1174 |
1.0813 |
1.0646 |
1.1328 |
63.26 |
65.06 |
|
(0.0219) |
(0.0245) |
(0.0235) |
(0.0140) |
(0.0188) |
(0.0567) |
(0.0415) | |
|
ln Q, ln M |
0.8740 |
0.9425 |
0.8888 |
0.8644 |
0.9277 |
62.69 |
62.27 |
|
(0.0192) |
(0.0189) |
(0.0194) |
(0.0145) |
(0.0123) |
(0.0625) |
(0.0671) | |
|
lnK,lnQ |
0.6696 |
1.4487 |
0.8460 |
0.4414 |
1.4470 |
100.40 |
126.86 |
|
(0.0927) |
(0.1615) |
(0.0794) |
(0.0489) |
(0.1093) |
(0.0000) |
(0.0000) | |
|
ln Q, ln K |
0.5188 |
0.7927 |
0.5363 |
0.3165 |
0.9208 |
102.10 |
149.90 |
|
(0.0655) |
(0.0905) |
(0.0546) |
(0.0339) |
(0.0617) |
(0.0000) |
(0.0000) |
40