Econometric estimation of the "Constant Elasticity of Substitution" function in R: the micEconCES package
Research output: Chapter in Book/Report/Conference proceeding › Book chapter › Research › peer-review
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Econometric estimation of the "Constant Elasticity of Substitution" function in R : the micEconCES package. / Henningsen, Arne; Henningsen, Géraldine; Literáti, Gergő .
Handbook of Research Methods and Applications in Empirical Microeconomics. ed. / Nigar Hashimzade; Michael A. Thornton. Edward Elgar Publishing, 2021. p. 596–640 (Handbooks of Research Methods and Applications).Research output: Chapter in Book/Report/Conference proceeding › Book chapter › Research › peer-review
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RIS
TY - CHAP
T1 - Econometric estimation of the "Constant Elasticity of Substitution" function in R
T2 - the micEconCES package
AU - Henningsen, Arne
AU - Henningsen, Géraldine
AU - Literáti, Gergő
PY - 2021
Y1 - 2021
N2 - The Constant Elasticity of Substitution (CES) function is popular in several areas of economics, but it is rather rarely used in econometric analysis because it cannot be estimated by standard linear regression techniques. This chapter starts with a discussion of several approaches for estimating the traditional CES function with two inputs as well as nested CES functions with three and four inputs. It proceeds with the demonstration of how these approaches can be applied in R using the add-on package micEconCES and describes how the various estimation approaches are implemented in the micEconCES package. The chapter concludes with an illustration of the usage of this package by replicating some estimations of CES functions that are reported in the literature.
AB - The Constant Elasticity of Substitution (CES) function is popular in several areas of economics, but it is rather rarely used in econometric analysis because it cannot be estimated by standard linear regression techniques. This chapter starts with a discussion of several approaches for estimating the traditional CES function with two inputs as well as nested CES functions with three and four inputs. It proceeds with the demonstration of how these approaches can be applied in R using the add-on package micEconCES and describes how the various estimation approaches are implemented in the micEconCES package. The chapter concludes with an illustration of the usage of this package by replicating some estimations of CES functions that are reported in the literature.
M3 - Book chapter
SN - 978 1 78897 647 3
T3 - Handbooks of Research Methods and Applications
SP - 596
EP - 640
BT - Handbook of Research Methods and Applications in Empirical Microeconomics
A2 - Hashimzade, Nigar
A2 - Thornton, Michael A.
PB - Edward Elgar Publishing
ER -
ID: 289233852