@article{ref1,
title="Capital-labour substitution in uk armed forces",
journal="Defence and peace economics",
year="2006",
author="MacDonald, Peter",
volume="17",
number="2",
pages="141-153",
abstract="This paper estimates the elasticity of substitution (σ) between military personnel and other military inputs, building on a study by Ridge and Smith published in 1991. The major difference is that this paper uses data on the average military wage, which Ridge and Smith did not, allowing a much more flexible specification of both the demand and supply equations. Accounting for a structural break at the end of the Cold War, it finds σ likely to be some small positive number, much lower than previous estimates suggest.<p />",
language="",
issn="1024-2694",
doi="10.1080/10242690500512236",
url="http://dx.doi.org/10.1080/10242690500512236"
}