| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w28323 |
| 来源ID | Working Paper 28323 |
| Estimating Production Functions in Differentiated-Product Industries with Quantity Information and External Instruments | |
| Nicolás de Roux; Marcela Eslava; Santiago Franco; Eric Verhoogen | |
| 发表日期 | 2021-01-11 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | This paper develops a new method for estimating production-function parameters that can be applied in differentiated-product industries with endogenous quality and variety choice. We take advantage of data on physical quantities of outputs and inputs from the Colombian manufacturing survey, focusing on producers of rubber and plastic products. Assuming constant elasticities of substitution of outputs and inputs within firms, we aggregate from the firm-product to the firm level and show how quality and variety choices may bias standard estimators. Using real exchange rates and variation in the "bite" of the national minimum wage, we construct external instruments for materials and labor choices. We implement a simple two-step instrumental-variables method, first estimating a difference equation to recover the materials and labor coefficients and then estimating a levels equation to recover the capital coefficient. Under the assumption that the instruments are uncorrelated with firms' quality and variety choices, this method yields consistent estimates, free of the quality and variety biases we have identified. Our point estimates differ from those of existing methods and changes in our preferred productivity estimator perform relatively well in predicting future export growth. |
| 主题 | Microeconomics ; Households and Firms ; Industrial Organization ; Market Structure and Firm Performance ; Industry Studies ; Development and Growth ; Development |
| URL | https://www.nber.org/papers/w28323 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/585996 |
| 推荐引用方式 GB/T 7714 | Nicolás de Roux,Marcela Eslava,Santiago Franco,et al. Estimating Production Functions in Differentiated-Product Industries with Quantity Information and External Instruments. 2021. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w28323.pdf（536KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
