The Time Augmented Cobb-Douglas Production Function

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43110%2F19%3A43916621" target="_blank" >RIV/62156489:43110/19:43916621 - isvavai.cz</a>
Result on the web
<a href="https://doi.org/10.11118/actaun201967051347" target="_blank" >https://doi.org/10.11118/actaun201967051347</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.11118/actaun201967051347" target="_blank" >10.11118/actaun201967051347</a>

Result language
angličtina
Original language name
The Time Augmented Cobb-Douglas Production Function
Original language description
The main objective of this paper is to propose and verify a time augmentation of the Cobb-Douglas production function parameters which should be able to capture changing conditions over time. The parameters are estimated via the nonlinear least squares method. As data a time series including production and its sources, labour and capital, in the construction industries of six Central European countries for the period 1995-2015 is used. Our results, based on calculation of R2 and Theil's U, prove that the models containing the time augmented parameters are better than the basic one. Also a verification of evaluated models using the economic reality for each country is given. In addition to the superiority of the time augmented models, these are applicable to distinguish the specifics of the development of productivity in individual countries.
Czech name
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Czech description
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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
10103 - Statistics and probability

Project
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Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year
2019
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical
Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis
ISSN
1211-8516
e-ISSN
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Volume of the periodical
67
Issue of the periodical within the volume
5
Country of publishing house
CZ - CZECH REPUBLIC
Number of pages
10
Pages from-to
1347-1356
UT code for WoS article
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EID of the result in the Scopus database
2-s2.0-85074599259

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