期刊
ECONOMICS LETTERS
卷 104, 期 3, 页码 112-114出版社
ELSEVIER SCIENCE SA
DOI: 10.1016/j.econlet.2009.04.026
关键词
Production function; Panel data; Proxy variables; Generalized method of moments
类别
In the common case where polynomial approximations are used for unknown functions, I show how proxy variable approaches to controlling for unobserved productivity, proposed by Olley and Pakes [Olley, S. and Pakes, A., 1996. The dynamics of productivity in the telecommunications equipment industry. Econometrica 64. 1263-1298.] and Levinsohn and Petrin (Levinsohn, J. and Petrin, A., 2003. Estimating production functions using inputs to control for unobservables. Review of Economic Studies 70, 317-341.], can be implemented by specifying different instruments for different equations and applying generalized method of moments. Studying the parameters within a two-equation system clarifies some key identification issues. and joint estimation of the parameters leads to simple inference and more efficient estimators. (C) 2009 Elsevier B.V. All rights reserved.
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