Analysis of agricultural economic growth factors based on Cobb Douglas production

Fitting of Cobb-Douglas Production Functions: Revisited

The set of Cobb-Douglas production functions is usually fitted by first linearizing the models through logarithmic transformation and then applying method of least squares. However, this procedure is valid only when the underlying assumption of multiplicative error-terms is justified. Unfortunately, this assumption is rarely satisfied in practice and accordingly, the results obtained are of dou...

a survey of the effect of production factors on energy consumption intensity in iran: an analysis based on cobb–douglas production function

the present paper investigates the effect of production factors, including technology, physical capital and labour on the energy consumption intensity of iran. for this purpose, time series data during the period of (1974-2007) have been analyzed within cobb–douglas production function framework. the results of the study indicate that the technology and the physical capital have caused the aver...

The Cobb-Douglas Regression and the Measurement of Economic Growth and its Causes

An Assessment of CES and Cobb-Douglas Production Functions

This paper surveys the empirical and theoretical literature on macroeconomic production functions and assesses whether the constant elasticity of substitution (CES) or the CobbDouglas specification is more appropriate for use in the CBO’s macroeconomic forecasts. The Cobb-Douglas’s major strengths are its ease of use and its seemingly good empirical fit across many data sets. Unfortunately, the...

Adjustment Costs and the Identication of Cobb Douglas Production Functions

Cobb Douglas production function parameters are not identi…ed from crosssection variation when inputs are perfectly ‡exible and chosen optimally, and input prices are common to all …rms. We consider the role of adjustment costs for inputs in identifying these parameters in this context. The presence of adjustment costs for all inputs allows production function parameters to be identi…ed, even i...