MICRO DATA AND MACRO TECHNOLOGY

We develop a framework to estimate the aggregate capital-labor elasticity of substitution by aggregating the actions of individual plants. The aggregate elasticity reflects substitution within plants and reallocation across plants; the extent of heterogeneity in capital intensities determines their...

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Bibliographic Details
Published in:Econometrica 2021-03, Vol.89 (2), p.703-732
Main Authors: Oberfield, Ezra, Raval, Devesh
Format: Article
Language:English
Subjects:
Accumulation
Aggregate data
aggregation
Analysis
Bias
bias of technical change
Capital formation
Change agents
Elasticity (Economics)
Elasticity of substitution
labor share
Manufacturing
Manufacturing industry
Technology
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