Arbeitspapier
Imposing and testing curvature conditions on a Box-Cox function
We present a new method for imposing and testing concavity of a cost function using asymptotic least squares, which can easily be implemented even for cost functions which are nonlinear in parameters. We provide an illustration on the basis of a (generalized) Box-Cox cost function with six inputs: capital, labor disaggregated in three skill levels, energy, and intermediate materials. A parametric test of the concavity of the cost function in prices is presented, and price elasticities are compared when curvature conditions are imposed and when they are not. The results show that, although concavity is statistically rejected, the estimates are not very sensitive to its imposition. We find that substitution is stronger between the different types of labor than between any other pair of inputs.
- Sprache
-
Englisch
- Erschienen in
-
Series: ZEW Discussion Papers ; No. 00-70
- Klassifikation
-
Wirtschaft
Wage Level and Structure; Wage Differentials
Multiple or Simultaneous Equation Models: Panel Data Models; Spatio-temporal Models
Labor Force and Employment, Size, and Structure
Macroeconomics: Production
- Thema
-
input demands
concavity
inequality restrictions
Box-Cox
Kostenfunktion
Regression
Nichtparametrisches Verfahren
Schätztheorie
Schätzung
Verarbeitendes Gewerbe
Deutschland
Theorie
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Koebel, Bertrand M.
Falk, Martin
Laisney, François
- Ereignis
-
Veröffentlichung
- (wer)
-
Zentrum für Europäische Wirtschaftsforschung (ZEW)
- (wo)
-
Mannheim
- (wann)
-
2000
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Koebel, Bertrand M.
- Falk, Martin
- Laisney, François
- Zentrum für Europäische Wirtschaftsforschung (ZEW)
Entstanden
- 2000
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