On the interpretation of coefficients in multiplicative-logarithmic functions: a reconsideration

Jesus Felipe ()

Applied Economics Letters, 1998, vol. 5, issue 6, 397-400

Abstract: This paper shows that previous arguments about the problems in interpreting the coefficients in multiplicative-logarithmic functions, derived from an arbitrary rebasing of the series, are incorrect. In the specific case of the translog production function, the tests for the CES, Cobb-Douglas and constant returns to scale restrictions are shown to be invariant to any rescaling.

Date: 1998
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Persistent link: https://EconPapers.repec.org/RePEc:taf:apeclt:v:5:y:1998:i:6:p:397-400

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DOI: 10.1080/135048598354799

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