Assume that, for a country called Magnesia, you are trying to estimate theparameters of the Cobb-Douglas production function expressed as follows: Y = ? K? L? e? (1)Where: Y is output, K is capital input, L is labour input, ?, ?, and ? are parameters to beestimated, e is the mathematical constant, and ? is the disturbance term.
Originally posted 2018-07-08 19:55:17. Republished by Blog Post Promoter