The Meaning of the Fitted Cobb-Douglas Function

E. H. Phelps Brown

The Quarterly Journal of Economics, 1957, vol. 71, issue 4, 546-560

Abstract: I. The claim to consideration, 546; four striking features of the findings, 547. — II. The fit to time series, 548; results depend on historical rates of growth, 550. — III. The fit to cross sections, 552; the effect of predominantly equal proportionate changes in labor-force, capital, and net value product between one industry and another, 553; a systematic relation between interindustry differences in net value product and those in the proportionate combination of factors, 555; its possible explanation, 556. — IV. Conclusion, 558.

Date: 1957
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