The Time Augmented Cobb-Douglas Production Function as a Tool of the Potential Output Estimation
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43110%2F20%3A43918273" target="_blank" >RIV/62156489:43110/20:43918273 - isvavai.cz</a>
Result on the web
<a href="https://mme2020.mendelu.cz/wcd/w-rek-mme/mme2020_conference_proceedings_final.pdf" target="_blank" >https://mme2020.mendelu.cz/wcd/w-rek-mme/mme2020_conference_proceedings_final.pdf</a>
DOI - Digital Object Identifier
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Alternative languages
Result language
angličtina
Original language name
The Time Augmented Cobb-Douglas Production Function as a Tool of the Potential Output Estimation
Original language description
The main aim of this paper is to propose and verify the most appropriate specification of the time augmented Cobb-Douglas production function and use it as an alternative way for the potential output and production gap estimation in the Visegrád Four countries, Austria and Germany during 1995-2015. We also compare the results based on the time augmented Cobb-Douglas production function including all parameters estimated and the approach based on the commonly used assumption that the labour factor intensity parameter is defined as a share of labour compensation in GDP. All the models are estimated via Nonlinear Least Squares technique and the time series data are sourced from the EU KLEMS and OECD database. Based on the results we evaluate the individual specifications with respect to the economic output development in each of the investigated countries. The results also show this function can be used as an alternative way for the purpose of the potential output analysis.
Czech name
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Czech description
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Classification
Type
D - Article in proceedings
CEP classification
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OECD FORD branch
50202 - Applied Economics, Econometrics
Result continuities
Project
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Continuities
S - Specificky vyzkum na vysokych skolach
Others
Publication year
2020
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Article name in the collection
Mathematical Methods in Economics 2020: Conference Proceedings
ISBN
978-80-7509-734-7
ISSN
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e-ISSN
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Number of pages
7
Pages from-to
504-510
Publisher name
Mendelova univerzita v Brně
Place of publication
Brno
Event location
Brno
Event date
Sep 9, 2020
Type of event by nationality
WRD - Celosvětová akce
UT code for WoS article
000668460800077