Download or read book Arguing a Case for Cobb Douglas Production Function written by K. V. Bhanu Murthy and published by . This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper argues that Cobb-Douglas (CD) production function merits use for analyzing the production process, not because it should be looked upon as a simple tool which can be handled easily or as a crude remedy for estimation, but because of the advantages it possesses. These advantages are due to the fact that it can handle multiple inputs in its generalized form. Even in the face of imperfections in the market, it does not introduce distortions of its own. Unconstrained CD-function further increases its potentialities to handle different scales of production. Various econometric estimation problems, such as serial correlation, heteroscidasticity and multicolinearity can be handled adequately and easily. It is argued that most of its criticism is focussed on its inflexibility and admits that except for one obvious assumptions all other assumptions can be relaxed. It is further argued that it facilitates computations and has the properties of explicit representability, uniformity, parsimony and flexibility. Even the problem of simultaneity can be overcome. The paper argues that aggregate technology can also be well represented by it.

Download or read book On the Assumptions of the Cobb Douglas Production Function and Their Assessment in Contemporary Economic Theory written by Giuseppe Orlando and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work deals with the Cobb-Douglas production function and related assumptions. The function has been at the center of the so-called ”capital controversy” and the object of a good deal of econometric research. We argue that while in the early days when the function was proposed the literature found several confirmations, from the late 1970s to nowadays criticism and evidence are more and more against the ability of the Cobb-Douglas function to model aggregate production. In any case, by looking at the number of recently published papers dealing with the Cobb-Douglas function, the debate is not over yet.

Download or read book The Aggregate Production Function and the Measurement of Technical Change written by Jesus Felipe and published by Edward Elgar Publishing. This book was released on 2013-10-31 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: This authoritative and stimulating book represents a fundamental critique of the aggregate production function, a concept widely used in macroeconomics.

Download or read book Progress through Regression written by Jeff E. Biddle and published by Cambridge University Press. This book was released on 2020-11-12 with total page 349 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Cobb-Douglas regression, a statistical technique developed to estimate what economists called a 'production function', was introduced in the late 1920s. For several years, only economist Paul Douglas and a few collaborators used the technique, while vigorously defending it against numerous critics. By the 1950s, however, several economists beyond Douglas's circle were using the technique, and by the 1970s, Douglas's regression, and more sophisticated procedures inspired by it, had become standard parts of the empirical economist's toolkit. This volume is the story of the Cobb-Douglas regression from its introduction to its acceptance as general-purpose research tool. The story intersects with the histories of several important empirical research programs in twentieth century economics, and vividly portrays the challenges of empirical economic research during that era. Fundamentally, this work represents a case study of how a controversial, innovative research tool comes to be widely accepted by a community of scholars.

Download or read book Handbook of Research on Strategic Developments and Regulatory Practice in Global Finance written by Olgu, Özlem and published by IGI Global. This book was released on 2014-11-30 with total page 459 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global financial crisis has called to attention the importance of financial development to economic growth as modern countries continue to struggle with debt, unemployment, and slow growth. However, a lack of agreement on how to define and measure financial development slows the development of global financial systems and markets. The Handbook of Research on Strategic Developments and Regulatory Practice in Global Finance creates a common framework for not only identifying but discussing the key factors in establishing a strong global market and financial system. This book will be a valuable reference for those interested in an in-depth understanding of the financial markets and global finance, including academics, professionals, and government agencies and institutions.

Download or read book Energy Use Efficiency written by Almas Heshmati and published by MDPI. This book was released on 2021-04-14 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: Energy is one of the most important factors of production. Its efficient use is crucial for ensuring production and environmental quality. Unlike normal goods with supply management, energy is demand managed. Efficient energy use—or energy efficiency—aims to reduce the amount of energy required to provide products and services. Energy use efficiency can be achieved in situations such as housing, offices, industrial production, transport and agriculture as well as in public lighting and services. The use of energy can be reduced by using technology that is energy saving. This Special Issue is a collection of research on energy use efficiency.

Download or read book Mathematics for Economists written by Malcolm Pemberton and published by University of Toronto Press. This book was released on 2011-01-01 with total page 721 pages. Available in PDF, EPUB and Kindle. Book excerpt: The third edition of Mathematics for Economists features new sections on double integration and discrete-time dynamic programming, as well as an online solutions manual and answers to exercises.

Download or read book Argument in the Greenhouse written by Sujata Gupta and published by Routledge. This book was released on 2005-10-05 with total page 472 pages. Available in PDF, EPUB and Kindle. Book excerpt: How can greenhouse gases be controlled and reduced? Will it be in time? This book adds a significant new contribution to the crucial climate change/global warming debate. Incorporating the key political and legal considerations into `real world' applied economic analysis, the authors provide a unique focus on the wider political economy of the problem. All the key issues of controlling climate change (costs, timing and degree of stabilisation, ecological taxt reform, developing countries, and evolution of international agreements), are placed firmly within the current legal and political context, with state-of-the-art economic techniques introduced to analyse different policy proposals. Covering both the developing and developed world, this book identifies important new policies to foster effective agreements on eissions and prevent global warming - realistic policies, likely to receive support at both international and domestic levels. be in time? This book adds a significant new contribution to the crucial climate change/global warming debate. Incorporating the key political and legal considerations into 'real world' applied economic analysis, the book's authors provide a unique focus on the wider political economy of the problem. All the key issues of controlling climate change (costs, timing and degree of stabilisation, ecological tax reform, developing countries and evolution of international agreements), are placed firmly within the current legal and political economy context, with state-of-the-art economic techniques introduced to analyse different policy proposals. Covering both the developing and developed world, this book identifies important new policies to foster effective agreements on emmissions and prevent global warming - realistic policies which are likely to receive support at both international and domestic levels.

Download or read book The Economics of Artificial Intelligence written by Ajay Agrawal and published by University of Chicago Press. This book was released on 2019-05-22 with total page 643 pages. Available in PDF, EPUB and Kindle. Book excerpt: Advances in artificial intelligence (AI) highlight the potential of this technology to affect productivity, growth, inequality, market power, innovation, and employment. This volume seeks to set the agenda for economic research on the impact of AI. It covers four broad themes: AI as a general purpose technology; the relationships between AI, growth, jobs, and inequality; regulatory responses to changes brought on by AI; and the effects of AI on the way economic research is conducted. It explores the economic influence of machine learning, the branch of computational statistics that has driven much of the recent excitement around AI, as well as the economic impact of robotics and automation and the potential economic consequences of a still-hypothetical artificial general intelligence. The volume provides frameworks for understanding the economic impact of AI and identifies a number of open research questions. Contributors: Daron Acemoglu, Massachusetts Institute of Technology Philippe Aghion, Collège de France Ajay Agrawal, University of Toronto Susan Athey, Stanford University James Bessen, Boston University School of Law Erik Brynjolfsson, MIT Sloan School of Management Colin F. Camerer, California Institute of Technology Judith Chevalier, Yale School of Management Iain M. Cockburn, Boston University Tyler Cowen, George Mason University Jason Furman, Harvard Kennedy School Patrick Francois, University of British Columbia Alberto Galasso, University of Toronto Joshua Gans, University of Toronto Avi Goldfarb, University of Toronto Austan Goolsbee, University of Chicago Booth School of Business Rebecca Henderson, Harvard Business School Ginger Zhe Jin, University of Maryland Benjamin F. Jones, Northwestern University Charles I. Jones, Stanford University Daniel Kahneman, Princeton University Anton Korinek, Johns Hopkins University Mara Lederman, University of Toronto Hong Luo, Harvard Business School John McHale, National University of Ireland Paul R. Milgrom, Stanford University Matthew Mitchell, University of Toronto Alexander Oettl, Georgia Institute of Technology Andrea Prat, Columbia Business School Manav Raj, New York University Pascual Restrepo, Boston University Daniel Rock, MIT Sloan School of Management Jeffrey D. Sachs, Columbia University Robert Seamans, New York University Scott Stern, MIT Sloan School of Management Betsey Stevenson, University of Michigan Joseph E. Stiglitz. Columbia University Chad Syverson, University of Chicago Booth School of Business Matt Taddy, University of Chicago Booth School of Business Steven Tadelis, University of California, Berkeley Manuel Trajtenberg, Tel Aviv University Daniel Trefler, University of Toronto Catherine Tucker, MIT Sloan School of Management Hal Varian, University of California, Berkeley

Download or read book The Oxford Handbook of Post Keynesian Economics Volume 2 Critiques and Methodology written by G. C. Harcourt and published by Oxford University Press. This book was released on 2013-08-16 with total page 527 pages. Available in PDF, EPUB and Kindle. Book excerpt: This two volume Handbook contains chapters on the main areas to which Post-Keynesians have made sustained and important contributions. These include theories of accumulation, distribution, pricing, money and finance, international trade and capital flows, the environment, methodological issues, criticism of mainstream economics and Post-Keynesian policies. The Introduction outlines what is in the two volumes, in the process placing Post-Keynesian procedures and contributions in appropriate contexts.

Download or read book Free Movement written by Brian Barry and published by Routledge. This book was released on 2015-03-18 with total page 291 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in 1992. Routledge is an imprint of Taylor & Francis, an informa company.

Download or read book NBER Macroeconomics Annual 1991 written by Olivier Blanchard and published by MIT Press. This book was released on 1991 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the sixth in a series of annuals from the National Bureau of EconomicResearch that are designed to stimulate research on problems in applied economics, to bring frontiertheoretical developments to a wider audience, and to accelerate the interaction between analyticaland empirical research in macroeconomics.Olivier Blanchard and Stanley Fischer are both Professorsof Economics at MIT.Contents: Pitfalls and Opportunities: What Macroeconomists Should Know aboutUnit Roots, John Y. Campbell and Pierre Perron. Markups and the Business Cycle, Julio Rotemberg andMichael Woodford. Privatization in Eastern Europe: Incentives and the Economics of Transition, JeanTirole. The EMS, the EMU, and the Transition to a Common Currency, Kenneth A. Froot and Kenneth S.Rogoff. Growth, Macroeconomics, and Development, Stanley S. Fischer. Recessions as Reorganizations,Robert E. Hall.

Download or read book Differential Geometric Structures and Applications written by Vladimir Rovenski and published by Springer Nature. This book was released on with total page 323 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Employment and Growth Issues for the 1980s written by A. Steinherr and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: The papers published in this book were presented and dis cussed on occasion of the celebration of Albert Kervyn de Lettenhove's retirement on 29-30 May 1986. This conference was made feasible through the participation of a large au dience and the generous financial support of the Commission of the European Communities. The sessions were organised under three topics, as are the papers in this book. The first session, chaired by Massimo Russo, Director-General, Commission ofthe European Com munities was devoted to an evaluation of past and current debates of central macro-economic problems, those of growth and business cycle stabilization. The second session, chaired by Jean Godeaux, Governor of Belgium's National Bank, looked at innovations in the conduct of monetary pol icy and the opportunities offered and problems associated with innovations in fiancial markets. The last session, chaired by Baron Michel Woitrin, formerly Professor of Eco nomics and Head Administrator of the Universite Catholi que de Louvain, contains several empirical analyses and pol icy proposals. I 30 years ago growth theory was a very promising research field, at the center of macroeconomics and macroeconomics was at the center of economics. Robert Solow -one of the major contributors to growth theory -reexamines the perti nence of that body of theory to problems of our times. A. Steinherr and D. Weiserbs (eds), Employment and Growth: Issues for the 1980s. ISBN 90·247·3514·9.

Download or read book Growth and Distribution written by Duncan K. Foley and published by . This book was released on 2019-02 with total page 417 pages. Available in PDF, EPUB and Kindle. Book excerpt: Authors Foley, Michl, and Tavani offer a major revision of an established textbook on the theory, measurement, and history of economic growth, with new material on climate change, corporate capitalism, and innovation.

Download or read book ECMT Round Tables Transport Infrastructure Investment and Economic Productivity written by European Conference of Ministers of Transport and published by OECD Publishing. This book was released on 2007-03-22 with total page 115 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Round Table addresses the macroeconomic effects of transport infrastructure policies, and aimed at identifying tools that could determine the overall volume of public expenditure for transport infrastructure investment. It also identifies methods for assessing macroeconomic impact.

Download or read book The Theoretical Contributions of Knut Wicksell written by Steinar Strom and published by Springer. This book was released on 2015-12-30 with total page 157 pages. Available in PDF, EPUB and Kindle. Book excerpt: