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



Paper and Paper Products: N = 600, T =8

y, x

b

β Lx

^
βLy

b

β Lxy

-~⅛-
βLx

βeLy

X 2( β Lx )

χ2(βeLy)

ln M, ln Q

1.0797

1.0883

1.0766

1.0799

1.1376

42.95

83.36

(0.0242)

(0.0410)

(0.0216)

(0.0185)

(0.0301)

(0.6408)

(0.0009)

ln Q, ln M

0.8911

0.9172

0.8911

0.8271

0.9124

79.18

43.00

(0.0334)

(0.0209)

(0.0185)

(0.0233)

(0.0158)

(0.0023)

(0.6388)

lnK,lnQ

0.9242

1.2121

0.9624

0.8171

1.2018

59.67

158.86

(0.0641)

(0.1117)

(0.0540)

(0.0427)

(0.0791)

(0.1017)

(0.0000)

ln Q, ln K

0.5953

1.0319

0.7451

0.3715

1.0560

141.11

62.95

(0.0635)

(0.0711)

(0.0444)

(0.0321)

(0.0506)

(0.0000)

(0.0598)

Chemicals: N = 229, T =8

y, x

b

β Lx

^
βLy

b

β Lxy

-~⅛-
βLx

-~⅛-
βeLy

X 2( β Lx )

X2(βeLy)

ln M, ln Q

0.9721

1.0217

0.9950

0.9805

1.0253

55.85

83.10

(0.0269)

(0.0278)

(0.0225)

(0.0179)

(0.0179)

(0.1765)

(0.0009)

lnQ,lnM

0.9619

1.0196

0.9760

0.9429

0.9992

81.75

55.71

(0.0262)

(0.0279)

(0.0214)

(0.0159)

(0.0179)

(0.0013)

(0.1798)

ln K, ln Q

1.1013

1.4280

1.1151

0.9795

1.4408

68.96

69.82

(0.0692)

(0.1429)

(0.0623)

(0.0465)

(0.0838)

(0.0201)

(0.0170)

lnQ, lnK

0.6348

0.8281

0.7261

0.5150

0.8536

67.88

71.83

(0.0680)

(0.0550)

(0.0428)

(0.0355)

(0.0390)

(0.0247)

(0.0113)

41



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