search query: @author Palm, F. C. / total: 2
reference: 1 / 2
« previous | next »
| Author: | Pfann, G. A. Palm, F. C. |
| Title: | Sources of asymmetry in production factor dynamics |
| Journal: | Journal of Econometrics
1998 : FEB, Vol. 82:2, p. 361-392 |
| Index terms: | ALGORITHMS ESTIMATION SIMULATION |
| Language: | eng |
| Abstract: | In this paper we investigate possible sources of aggregate cyclical asymmetry of production factor dynamics using a trivariate structural dynamic model of capital and labor demand and output. The two sources are: internal or behavioral asymmetry resulting from asymmetry in costs of adjusting factor inputs, and external non-linearity present in the process of real factor prices, being the model's forcing variables together with productivity shocks. In the empirical analysis behavioral asymmetry and external non-linearity are disentangled by estimation (GMM) and by simulation techniques. |
« previous | next »
SCIMA