Parameter estimates
| Parameters | Estimates | Standard errors | |
|---|---|---|---|
| Capital Cobb–Douglas parameter | α | 0.25650 | 0.0782 |
| Labor Cobb–Douglas parameter | β | 0.64533 | 0.0996 |
| CES parameter for temporary and permanent labor | γ | 0.83571 | 0.0229 |
| Efficiency of temporary labor | λ | 0.19495 | 0.0110 |
| Quit rate for permanent workers | δh | 0.00235 | 0.0013 |
| Firing cost | F | 5.18602 | 0.3325 |
| Capital adjustment cost | a | 2.39328 | 0.1938 |
| Productivity persistence | ϕ | 0.88259 | 0.0098 |
| Productivity growth | μ | 0.12290 | 0.0219 |
| Volatility of productivity | σ | 0.28380 | 0.0403 |
| Borrowing constraint | 100.1 | 4.2 | |
| Measurement error, capital | σK | 795.2 | 52.9 |
| Measurement error, borrowing | σB | 389.2 | 19.4 |
| Measurement error, permanent labor | σH | 106.5 | 44.8 |
| Measurement error, temporary labor | σL | 170.5 | 22.2 |
| Parameters | Estimates | Standard errors | |
|---|---|---|---|
| Capital Cobb–Douglas parameter | 0.25650 | 0.0782 | |
| Labor Cobb–Douglas parameter | 0.64533 | 0.0996 | |
| CES parameter for temporary and permanent labor | 0.83571 | 0.0229 | |
| Efficiency of temporary labor | 0.19495 | 0.0110 | |
| Quit rate for permanent workers | 0.00235 | 0.0013 | |
| Firing cost | 5.18602 | 0.3325 | |
| Capital adjustment cost | 2.39328 | 0.1938 | |
| Productivity persistence | 0.88259 | 0.0098 | |
| Productivity growth | 0.12290 | 0.0219 | |
| Volatility of productivity | 0.28380 | 0.0403 | |
| Borrowing constraint | 100.1 | 4.2 | |
| Measurement error, capital | 795.2 | 52.9 | |
| Measurement error, borrowing | 389.2 | 19.4 | |
| Measurement error, permanent labor | 106.5 | 44.8 | |
| Measurement error, temporary labor | 170.5 | 22.2 |
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