STATE-LEVEL CAPITAL AND INVESTMENT: UPDATES AND IMPLICATIONS

被引:24
|
作者
Yamarik, Steven [1 ]
机构
[1] Calif State Univ Long Beach, Dept Econ, Long Beach, CA 90840 USA
关键词
PANEL-DATA; ECONOMIC-GROWTH; SPECIFICATION; EMPIRICS; MODELS; TESTS; SOLOW;
D O I
10.1111/j.1465-7287.2011.00282.x
中图分类号
F [经济];
学科分类号
02 ;
摘要
This paper presents state-by-state capital stock and gross investment estimates for 19902007. I follow the methodology of Garofalo and Yamarik (The Review of Economics and Statistics, 84, 2002, 31623) and apportion the national capital stock to the individual states using one-digit NAICS income data. I then test the soundness of the data by estimating a CobbDouglas production function and a Solow growth model using a variety of panel data estimators. Under both models, I obtain estimates of the output elasticity for capital that are plausible and close to the observed national income share of one-third. (JEL O47, O51, R11)
引用
收藏
页码:62 / 72
页数:11
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