Uncertainty and Capacity Constraints: Reconsidering the Aggregate Production Function
نویسندگان
چکیده
منابع مشابه
Uncertainty and Capacity Constraints: Reconsidering the Aggregate Production Function
The Cobb–Douglas function is today one of the most widely adopted assumptions in economic modeling, yet both its theoretical and empirical bases have long been under question. This paper builds an alternative function on very different (albeit also neoclassical) microfoundations aimed at both addressing those theoretical drawbacks and providing a better empirical fit than the Cobb–Douglas formu...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2011
ISSN: 1556-5068
DOI: 10.2139/ssrn.1853138