The Time Augmented Cobb-Douglas Production Function as a Tool of the Potential Output Estimation

Kód výsledku v 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>

Výsledek na webu

<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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Jazyk výsledku

angličtina

Název v původním jazyce

The Time Augmented Cobb-Douglas Production Function as a Tool of the Potential Output Estimation

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

The Time Augmented Cobb-Douglas Production Function as a Tool of the Potential Output Estimation

Popis výsledku anglicky

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.

Druh

D - Stať ve sborníku

CEP obor

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OECD FORD obor

50202 - Applied Economics, Econometrics

Projekt

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Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2020

Kód důvěrnosti údajů

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

Název statě ve sborníku

Mathematical Methods in Economics 2020: Conference Proceedings

ISBN

978-80-7509-734-7

ISSN

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e-ISSN

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Počet stran výsledku

7

Strana od-do

504-510

Název nakladatele

Mendelova univerzita v Brně

Místo vydání

Brno

Místo konání akce

Brno

Datum konání akce

9. 9. 2020

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

000668460800077