Production functions and distributions of unit factor productivities: Uncovering the link
We derive a reversible "endogenous technology choice transform," according to which firm-level production functions and distributions of unit factor productivities are two sides of the same coin. The Cobb-Douglas function relates to Pareto distributions, and the CES to Weibull distributions.
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- Samuel S. Kortum, 1997. "Research, Patenting, and Technological Change," Econometrica, Econometric Society, vol. 65(6), pages 1389-1420, November.
- Charles I. Jones, 2005.
"The Shape of Production Functions and the Direction of Technical Change,"
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Oxford University Press, vol. 120(2), pages 517-549.
- Charles I. Jones, 2004. "The Shape of Production Function and the Direction of Technical Change," NBER Working Papers 10457, National Bureau of Economic Research, Inc.