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Normalizing VES production functions: extending the supply-side system approach

2026-02-01Artigo de investigação Acesso aberto
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dc.contributor.authorRío, Fernando del
dc.contributor.authorRebelo, Francisco
dc.date.accessioned2026-01-09T11:40:15Z
dc.date.available2026-01-09T11:40:15Z
dc.date.issued2026-02-01
dc.description.abstractThis paper extends the Klump et al. (2007) normalization procedure to Variable Elasticity of Substitution (VES) production functions. Normalization addresses identification issues in VES model estimation, allowing joint estimation of substitution elasticities and factor-augmenting technical change, while offering a tractable extension of the normalized supply-side system that bridges the gap between CES and more flexible VES specifications.eng
dc.identifier.citationRío, F. D., & Rebelo, F. (2026). Normalizing VES production functions: extending the supply-side system approach. Economics Letters, 259, Article 112794. https://doi.org/10.1016/j.econlet.2025.112794
dc.identifier.doi10.1016/j.econlet.2025.112794
dc.identifier.eid105025006056
dc.identifier.issn0165-1765
dc.identifier.othera22361a3-360b-468f-8587-9ad4fb57506c
dc.identifier.urihttp://hdl.handle.net/10400.14/56454
dc.identifier.wos001648920600001
dc.language.isoeng
dc.peerreviewedyes
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/
dc.subjectCapital-labour elasticity of substitution
dc.subjectFactor-augmenting technical change
dc.subjectIdentification
dc.subjectNormalization
dc.subjectNormalized supply-side system
dc.subjectVariable elasticity of substitution (VES)
dc.titleNormalizing VES production functions: extending the supply-side system approacheng
dc.typeresearch article
dspace.entity.typePublication
oaire.citation.titleEconomics Letters
oaire.citation.volume259
oaire.versionhttp://purl.org/coar/version/c_970fb48d4fbd8a85

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