DIW Berlin: Publikationssuche

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Diskussionspapiere 1784 / 2019

What Determines the Elasticity of Substitution between Capital and Labor? A Literature Review

This paper provides the first comprehensive review of the empirical and theoretical literature on the determinants of the elasticity of substitution between capital and labor. Our focus is on the two-input constant elasticity of substitution (CES) production function. By example of the U.S., we highlight the distinctive heterogeneity in empirical estimates of σ at both the aggregate and industrial

2019| Michael Knoblach, Fabian Stöckl
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