Factor Intensity Reversals and the CES Production Function
The Review of Economics and Statistics
1969
to the randomness of profits, rather than to errors in the measurements of K, which would imply a negative bias in p', this too could not explain away the observed negative as, since again one would expect bias /3' in this case too, to be less than one in absolute value. Thus, the observed negative cannot be explained as the consequence of using a bad cost of capital variable and therefore can be taken as an indication of greater capital-schooling (skill) complementarity.4
- DOI
- 10.2307/1926440
- Volume
- 51 (4)
- Pages
- 468
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