On a Production Function of European Countries: An Empirical Study
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F47813059%3A19520%2F18%3A00011091" target="_blank" >RIV/47813059:19520/18:00011091 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Alternative languages
Result language
angličtina
Original language name
On a Production Function of European Countries: An Empirical Study
Original language description
The aim of this paper is to examine a goodness-of-fit of several aggregated production functions including Cobb-Douglas function; Mankiw, Romer and Weil function, or Mincer's specification for a set of 30 European countries during 2006-2015 period. The dependent variable was economic output measured in real GDP, the set of independent variables included labour, physical capital, human capital, labour productivity or technology level. The main finding of the paper is that all above mentioned aggregate production functions fitted the data exceptionally well, with the adjusted coefficients of determination above 0.95. Also, it was found that the inclusion of other macroeconomic variables, such as labour productivity, human capital or technology level to the two-factor Cobb-Douglas function did not result in a significantly better goodness-of-fit.
Czech name
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Czech description
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Classification
Type
J<sub>SC</sub> - Article in a specialist periodical, which is included in the SCOPUS database
CEP classification
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OECD FORD branch
50202 - Applied Economics, Econometrics
Result continuities
Project
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Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace
Others
Publication year
2018
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
COMPARATIVE ECONOMIC RESEARCH - CENTRAL AND EASTERN EUROPE
ISSN
1508-2008
e-ISSN
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Volume of the periodical
21
Issue of the periodical within the volume
2
Country of publishing house
PL - POLAND
Number of pages
12
Pages from-to
25-36
UT code for WoS article
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EID of the result in the Scopus database
2-s2.0-85049797396