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Keywords:

  • constant elasticity of substitution production function;
  • steady-state growth rate;
  • total factor productivity

This short note estimates using the Kmenta's (1967) approximation, a constant elasticity of substitution (CES) production function for Australia for 1960–2004. It is found that the elasticity of substitution is 2.44, technical progress is capital augmenting and the steady-state growth rate (SSGR) of Australia is about 0.34%.