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Production Function Models Estimation

  • Nabaz T. KhayyatEmail author
Chapter
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Part of the Green Energy and Technology book series (GREEN)

Abstract

In this chapter the first group of econometric models the Cobb-Douglas production function and the Translog production function are estimated. The findings from estimating the Cobb-Douglas production function model reveal that (i) In general the South Korean industries are exhibiting increasing returns to scale , (ii) There is a slight substitution pattern between energy and ICT capital, and (iii) There is a significant and positive impact of energy use on the production level in the South Korean industries.

Keywords

Production Function Total Factor Productivity Technical Change Input Factor Perfect Competition 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer Science+Business Media Dordrecht 2015

Authors and Affiliations

  1. 1.Technology Management, Economics, and Policy Program, College of EngineeringSeoul National UniversitySeoulSouth Korea

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