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Estimates of Substitution Elasticities in Agriculture

Authors: Taoyuan Wei;

Estimates of Substitution Elasticities in Agriculture

Abstract

The paper estimates substitution elasticity between labor and capital in a constant elasticity of substitution (CES) production function for agriculture of seven major producers. I adopt the normalized system approach suggested by Leon-Ledesma et al. (2010) and the data from World Input-output Database (WIOD) to study to what extent time period matters for the estimated elasticities. The elasticities are estimated on the basis of data from 1995 to one of the years among 1999-2009 respectively. The results show that the time period has almost no effect on the estimated elasticity for India, longer time period lead to lower estimates of elasticity for China, Higher for Brazil, relatively stable for USA and Russia, and inconclusive for Australia and Canada.

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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
1
Average
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