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Numerical Computation of Short-Run-Production Functions

  • Kurt Hildenbrand
Conference paper

Abstract

In empirical analysis of production functions, the standard approach is to choose ad hoc a parameterized family of functions (e.g., Cobb-Douglas- or CES-production functions) and then to fit the parameters according to a given set of observed data. This means that assumptions on the functional relationships are made, e.g. constant elasticity of substitution. In contrast to this approach we describe some numerical methods for a parameter-free approach which is based on the technical information on the micro-level.

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References

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  2. Hildenbrand, W.: Short-Run Production Functions Based on Microdata. Econometrica 48, 1981.Google Scholar
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  5. Koopmans, T.: Examples of Production Relations Based on Microdata. The Microeconomic Foundation of Macroeconomics. Ed. by G. C. Harcourt. London 1977, 144–171.Google Scholar

Copyright information

© Springer-Verlag Berlin Heidelberg 1983

Authors and Affiliations

  • Kurt Hildenbrand

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