eduzhai > Applied Sciences > Computer Science >

The Cobb-Douglas production function revisited

  • KanKan
  • (0) Download
  • 20210425
  • Save

... pages left unread,continue reading

Document pages: 13 pages

Abstract: Charles Cobb and Paul Douglas in 1928 used data from the US manufacturingsector for 1899-1922 to introduce what is known today as the Cobb-Douglasproduction function that has been widely used in economic theory for decades.We employ the R programming language to fit the formulas for the parameters ofthe Cobb-Douglas production function generated by the authors recently via thebi-Hamiltonian approach to the same data set utilized by Cobb and Douglas. Weconclude that the formulas for the output elasticities and total factorproductivity are compatible with the original 1928 data.

Please select stars to rate!

         

0 comments Sign in to leave a comment.

    Data loading, please wait...
×