Testing Dynamic Specification of Factor Demand Equations for U.S. Manufacturing
利用1947-1981年美国制造业年度数据，检验要素需求经验模型的动态设定，发现常用模型设定有误，误差修正模型虽优于其他模型，但仍无法给出满意的长期弹性估计。
This paper addresses the question of dynamic specification of empirical models of factor demand for annual U.S. manufacturing data from 1947 to 1981. Frequently used models that treat a subset of factors as variable are shown to be misspecified. An error-correction model is considered as an alternative specification. This model is shown to dominate several more parsimonious models in several respects. However, like the other models considered, the error-correction model is unable to generate satisfactory estimates of long-run elasticities. The issue of dynamic specification remains unresolved. Copyright 1992 by MIT Press.