Person

Adam Tipper

Working paper

Capital-labour substitution elasticities in New Zealand: one for all industries?

This paper tests the assumption of a Cobb-Douglas production function (a unitary elasticity of substitution between capital and labour) for 20 of New Zealand’s industries, using Statistics New Zealand’s industry-level productivity data. It also assesses how the Leontief production function (zero substitutability) may apply to...