The problem of simultaneous equation bias is examined in the context of the Cobb-Douglas production function and firm decision functions, assuming competition. Two extreme models are specified, ...

In my last post on my Debtwatch blog, I finished by saying that the Physiocrats were the only School of economics to properly consider the role of energy in production. They ascribed it solely to ...

This paper examines existing methods of estimating the translog production function and provides a general framework that allows for variable returns to scale. The model is based on the inverse input ...