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...

The impact of human and public capital on growth is a major issue in economic theory and in policy evaluation. Using a cointegrated VAR, we estimate a Cobb-Douglas production function for Portugal with public and human capital. Return rates are then computed with and without dynamic feedbacks....

Using traditional production theory, it is possible to estimate production functions in which hours per worker and number of workers hired are treated as endogenous and chosen by the firm, priced respectively by the variable hourly wage and the so-called quasi-fixed unit cost. The available data...

This paper extends the fossil production function to incorporate embodied technical change. The fossil production function provides an alternative to the standard neoclassical explanation for the aggregate production function. In a Classical Ricardian spirit, the paper assumes that...

This paper constructs China's capital stock, which is used in conjunction with a labor variable to estimate a Cobb-Douglas production function for the Chinese economy. Two panels of data are used one for capital formation and one for sources of investment finance. Both national and provincial...