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Calibrated Cobb-Douglas functions: Summary and examples

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  • Ferran Sancho

Abstract

Cobb-Douglas functions are highly useful and conveniently simple. They are widely used in microeconomics to illustrate a multitude of economic phenomena and properties. A key characteristic of these functions is that their isoquants are smoothly convex, allowing for continuous substitution along them as the prices of goods or factors change. They are also popular in research, particularly in computable general equilibrium analysis. However, practical references on the generation and use of calibrated Cobb-Douglas functions are scarce. In these notes, we aim to fill that gap.

Suggested Citation

  • Ferran Sancho, 2025. "Calibrated Cobb-Douglas functions: Summary and examples," UFAE and IAE Working Papers 976.25, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
    • Handle: RePEc:aub:autbar:976.25
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    References listed on IDEAS

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    1. Ferran Sancho, 2009. "Calibration Of Ces Functions For Real-World Multisectoral Modeling," Economic Systems Research, Taylor & Francis Journals, vol. 21(1), pages 45-58.
    2. Guerra, Ana-Isabel & Sancho, Ferran, 2014. "An operational, nonlinear input–output system," Economic Modelling, Elsevier, vol. 41(C), pages 99-108.
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