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 ...

The generalized linear production function (Diewart,1971) is an attractive alternative for this application: it admits zero values for inputs and allows the estimation of complex technical ...

Economics is a branch of social science focused on the production, distribution, and consumption of goods and services.

I. Production and Cost: One Variable Input 1. True/ False 1. If marginal product is decreasing, then average product must also be decreasing. 2. For a fixed-proportion technology, inputs cannot be ...

Many growth models assume that aggregate output is generated by a Cobb-Douglas production function. In this article we question the empirical relevance of this specification. We use a panel of 82 ...