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- W3125937655 abstract "This paper considers the estimation of Cobb-Douglas production functions using panel data covering a large sample of companies observed for a small number of time periods. GMM estimatorshave been found to produce large finite-sample biases when using the standard first-differenced estimator. These biases can be dramatically reduced by exploiting reasonable stationarity restrictions on the initial conditions process. Using data for a panel of R&Dperforming US manufacturing companies we find that the additional instruments used in our extended GMM estimator yield much more reasonable parameter estimates." @default.
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- W3125937655 date "2000-01-01" @default.
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- W3125937655 title "GMM Estimation with persistent panel data: an application to production functions" @default.
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- W3125937655 doi "https://doi.org/10.1080/07474930008800475" @default.
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