The Specification of Dynamics in Cost Function and Factor Demand Estimation
比较了三种动态结构设定（完全静态均衡、部分静态均衡、部分动态均衡）对成本函数和要素需求估计的影响，发现设定方式显著影响结果，其中部分动态均衡模型表现最稳定。
This paper concerns the problem of properly specifying the dynamic structure of models of industry costs and factor demands. The paper compares three common frameworks: long-run costs with all factors assumed in equilibrium (Full Static Equilibrium), short-run costs with variable factors in short-run equilibrium (Partial Static Equilibrium) followed by computation of long-run costs, and short-run costs including internal capital adjustment costs (Partial Dynamic Equilibrium). The approach of the paper is to estimate a capital-labor-fuel-electricity model for six OECD countries (G7 less Italy) for the 1960-1989 period. Using the three different 'dynamic' specifications, we obtain substantially different results in terms of factor demand, cross-price effects and technical change. The implication is that proper dynamic specification is critical. The Partial Dynamic Equilibrium model appears to behave most consistently across the cross-section. Copyright 1993 by MIT Press.