抄録
We estimate the two-stage CES production function with capital and labor inputs in Japanese manufacturing sectors to measure the elasticities of substitution. The labor inputs are differentiated by educational attainment with Fallon-Layard's procedure. We statistically test the following three hypotheses: (1) capital and educated labor are complements, (2) capital is more complementary to educated labor than to less-educated labor, (3) unions are likely to be relatively weak in the sectors where the elasticity of substitution between capital and labor is large.
