Testing production functions used in empirical growth studies

Pedro Ferreira, João Issler and Samuel de Abreu Pessôa

No 507, FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE) from EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil)

Abstract: We estimate and test two alternative functional forms, which have been used in the growth literature, representing the aggregate production function for a panel of countries: the model of Mankiw, Romer and Weil (Quarterly Journal of Economics, 1992), and a mincerian formulation of schooling-returns to skills. Estimation is performed using instrumental-variable techniques, and both functional forms are confronted using a Box-Cox test, since human capital inputs enter in levels in the mincerian specification and in logs in the extended neoclassical growth model.

Date: 2003-10-11
New Economics Papers: this item is included in nep-dev
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Citations: View citations in EconPapers (5)

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Journal Article: Testing production functions used in empirical growth studies (2004)
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Persistent link: https://EconPapers.repec.org/RePEc:fgv:epgewp:507

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