On the Production Function for Italy
AbstractIn this paper, we assess the ability of the Cobb-Douglas framework to match the empirical evidence for Italy. While the growth accounting approach requires the validity of this functional form and of its parameters, we conduct econometric analysis on a panel of regions for the years 2000- 2006 and suggest (i) an alternative specification and (ii) a twofold time series data construction, under which the Cobb-Douglas framework appears to yield the most credible and well-specified formulation of the Italian production function.
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Bibliographic InfoArticle provided by Vita e Pensiero, Pubblicazioni dell'Universita' Cattolica del Sacro Cuore in its journal Rivista Internazionale di Scienze Sociali.
Volume (Year): 118 (2010)
Issue (Month): 4 ()
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Production function; Total Factor Productivity; Capital stocks.;
Find related papers by JEL classification:
- O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
- E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
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