Production functions with variable elasticity of substitution and variable returns to scale

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University of Wisconsin--Madison, 1967 - Business & Economics - 308 pages
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Part II

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Appendix Arnold Zellner assume assumption asymptotic behavioral equations bias c2 log capital-labor ratio Chapter CM CM CM r-l coefficients consider consistent estimator constant returns correlated covariances Ct(V December 31 dependent variable Dhrymes differential equation disturbance term DOCTOR OF PHILOSOPHY econometrics elasticity of sub elasticity of substitution empirical endogenous ESF's estimated ESF's estimating the GVES ex ante exogenous expected value factor Figure fixed-coefficient models function equation Function for Selected functional form given GVES hence hypothesis Industries Numbers Industry Number 37 inputs isoquant function K and L Kindred Products Kumta labor least-squares estimates level of output likelihood function linear function log K log L log L+(p-l)K logarithmic lognormal lognormally distributed marginal product maximum likelihood maximum likelihood estimates maximum likelihood method measurement problem multiple correlation Mysore NAGESH neoclassical normally distributed noted null hypothesis observed obtained plim point estimates price of capital r-l CM r-l r-l random variable rate of return regression return on capital returns to scale Revankar sample sample means scale behavior scale parameter scatter diagram Selected U.S. Manufacturing simultaneous equation system specification standard deviation standard error statistical testing stochastic stochastic model straight-line isoquant straight-line isoquant function substitution behavior sum of squares t-test Thus total variation U.S. Manufacturing Industries uncorrelated units of measurement unity University of Poona University of Wisconsin Variable Elasticity variance variance-covariance matrix vector VES function VES Production Function VES residuals VO VD VO VO VO Zellner zero Zvi Griliches

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