Estimating Input–Output Factor Demand Equations: Some Results on Hanoch's HCDES Production Function |
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| Authors: | P M C De Boer R Harkema |
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| Institution: | Econometric Institute , Erasmus University , PO Box 1738, Rotterdam , DR , 3000 , The Netherlands |
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| Abstract: | In this paper, we estimate a factor demand system based on Hanoch's homogeneous constant differences of elasticities of substitution production function under a newly proposed specification of the contemporaneous covariance matrix. This admits that the variances of the factor demands may be different but, nevertheless, does not ask for many observations. |
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