Adjustment costs and dynamic factor demands for U.S. cigarette manufacturing
为美国卷烟制造业构建动态模型，估计要素需求，发现调整烟草库存有显著成本，而调整资本库存则无，且烟草需求比静态模型估计的更缺乏弹性。
Following the approach of Berndt, Fuss, and Waverman, a dynamic model for U.S. cigarette manufacturing is developed and factor demands estimated. Tobacco and capital stocks are treated as quasi-fixed inputs. The results indicate that there are significant adjustment costs associated with adjusting tobacco stocks, but not with adjusting the capital stock. Short-run, intermediate-run, and long-run output constant elasticities are estimated for inputs in cigarette production. Demand for U.S. tobacco by U.S. cigarette manufacturers is found be more inelastic than shown by previous studies using static models. Cigarettes produced for export appear to differ in their marginal cost of production from cigarettes produced for the sale in the U.S. market. © 1998 Elsevier Science B.V. All rights reserved.