Abstract
This short note estimates using the Kmenta's (1967) approximation, a constant elasticity of substitution (CES) production function for Australia for 1960-2004. It is found that the elasticity of substitution is 2.44, technical progress is capital augmenting and the steady-state growth rate (SSGR) of Australia is about 0.34%.
| Original language | English |
|---|---|
| Pages (from-to) | 95-98 |
| Number of pages | 4 |
| Journal | Economic Papers |
| Volume | 32 |
| Issue number | 1 |
| DOIs | |
| Publication status | Published - 2013 |
UN SDGs
This output contributes to the following UN Sustainable Development Goals (SDGs)
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SDG 8 Decent Work and Economic Growth
Keywords
- economics
- growth rates
- industrial productivity
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