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THE PRODUCTION FUNCTION
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2SLS aggregate demand alternative analysis assumed autocorrelated average behaviour Brookings model C.E.S. function capital stock Chapter Cobb-Douglas function coefficient components consumption function correlation deflator dependent variable determined disposable income distributed lag disturbances durables Durbin-Watson statistic Econometric Model economic effects endogenous variables Evans exogenous expenditure explanatory variables forecast errors forecast performance Fromm given hypothesis industry input inventory investment function Jorgenson Klein linear macro-economic model measure ment Michigan RSQE model monetary multicollinearity multipliers naive model neoclassical non-farm non-linear obtained OLS estimates output parameters particular Phillips curve predetermined variables prediction price change price index problem production function profits ratio reduced form reference regression model regressors relating relationship residuals returns to scale Review sample Section sector specification statistic stochastic structure theory tion unemployment United values Vandome variance wage bill wage change wage rate Wharton EFU zero