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A stochastic approach to the Cobb-Douglas Production Function

Author

Listed:
  • Nicolas Vaneecloo

    (CLERSÉ - Centre Lillois d’Études et de Recherches Sociologiques et Économiques - UMR 8019 - Université de Lille - CNRS - Centre National de la Recherche Scientifique)

  • Constantin Chilarescu

Abstract

This paper presents a stochastic approach to the theory of aggregateproduction function, based on the theory of stochastic differentialequations. The main result is that under certain restrictions the productionfunction converges from below to the Cobb-Douglas functionproviding further support for the conclusion drawn by Jones (2005).
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Nicolas Vaneecloo & Constantin Chilarescu, 2007. "A stochastic approach to the Cobb-Douglas Production Function," Post-Print halshs-00284915, HAL.
    • Handle: RePEc:hal:journl:halshs-00284915
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    Cited by:

    1. Yashin, Pete, 2016. "Кризис И Рост Неравенства. Оптимальный Путь Экономического Роста [The crisis and increasing inequality. The best equilibrium growth path]," MPRA Paper 73544, University Library of Munich, Germany.
    2. Ioana VIASU & Constantin CHILARESCU, 2011. "A Semigroups Approach to the Study of a Second Order Partial Diferential Equation Applied in Economics," Timisoara Journal of Economics, West University of Timisoara, Romania, Faculty of Economics and Business Administration, vol. 4(4(16)), pages 239-244.
    3. Yashin, Pete, 2014. "The Golden Rule of Capital Accumulation and Global Recession. Aggregate Production Function and the Cambridge Capital Controversy," MPRA Paper 58570, University Library of Munich, Germany.

    More about this item

    Keywords

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    JEL classification:

    • C2 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables
    • D2 - Microeconomics - - Production and Organizations

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