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Re: st: Levpet revenue versus valueadded option
From
"Brian P. Poi" <[email protected]>
To
[email protected]
Subject
Re: st: Levpet revenue versus valueadded option
Date
Fri, 06 May 2011 20:22:47 -0400
On 05/03/2011 02:03 PM, Adriana Hauer wrote:
Dear all,
Can somebody tell me whether a levpet command with revenue as an
option delivers the same coefficient estimates as the SAME levpet
command with valueaddd as an option? If not, why?
Thanks!
Lilly
Lilly,
Even if you have a dataset that has the right variables to do both
estimation with revenue as the dependent variable and value-added as the
dependent variable, I don't think you will get the same estimates. The
two estimators use slightly different techniques to disentangle the
effects of the productivity shocks (because the dependent variables
represent different concepts), so the final results will not coincide.
If you have a large enough dataset, I think the two techniques should
produce similar results assuming the Cobb-Douglas production function
specification is valid, technology shocks do in fact follow a
first-order Markov process, etc.
-- Brian Poi
-- [email protected]
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