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Empirical Work on Production Functions

  • David F. Heathfield
  • Sören Wibe
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Abstract

Having a wide range of functional forms to choose among is obviously helpful when conducting qualitative investigations into questions of economic growth, income distribution, international trade and so on. However, it is often the case that some quantitative predictions are necessary. It is, for example, necessary to know the elasticity of substitution of the CES function before it will yield any information about the effect of wage increases on employment. This raises the question of how best to quantify the parameter values of the chosen functional form.

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Copyright information

© David F. Heathfield and Sören Wibe 1987

Authors and Affiliations

  • David F. Heathfield
  • Sören Wibe

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