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Estimates of the Long-Run Growth Rate of Australia.

Authors :
Shankar, Sriram
Bhaskara Rao, B.
Source :
Economic Papers; Mar2013, Vol. 32 Issue 1, p95-98, 4p
Publication Year :
2013

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%. [ABSTRACT FROM AUTHOR]

Subjects

Subjects :
ECONOMIC development
ELASTICITY (Economics)
SUBSTITUTION (Economics)
PRODUCTION functions (Economic theory)
TECHNOLOGICAL progress
CAPITAL
GROWTH rate

Details

Language :
English
ISSN :
08120439
Volume :
32
Issue :
1
Database :
Complementary Index
Journal :
Economic Papers
Publication Type :
Academic Journal
Accession number :
86728162
Full Text :
https://doi.org/10.1111/1759-3441.12014
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