On a Production Function of European Countries: An Empirical Study

Kód výsledku v 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>

Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

On a Production Function of European Countries: An Empirical Study

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

On a Production Function of European Countries: An Empirical Study

Popis výsledku anglicky

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.

Druh

J_SC - Článek v periodiku v databázi SCOPUS

CEP obor

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OECD FORD obor

50202 - Applied Economics, Econometrics

Projekt

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Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2018

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

COMPARATIVE ECONOMIC RESEARCH - CENTRAL AND EASTERN EUROPE

ISSN

1508-2008

e-ISSN

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Svazek periodika

21

Číslo periodika v rámci svazku

2

Stát vydavatele periodika

PL - Polská republika

Počet stran výsledku

12

Strana od-do

25-36

Kód UT WoS článku

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EID výsledku v databázi Scopus

2-s2.0-85049797396