8John Neter, Michael H. Kutner, Christopher J. Nachtsheim, and William Wasserman, Applied Regression Analysis, 3d ed., Irwin, 1996, pp. 548-549.
572 PART THREE: TOPICS IN ECONOMETRICS
EXAMPLE 14.2 (Continued)
Therefore, the estimated Cobb-Douglas function is:
GDPt = 0.5292Labor'
Interpreted asymptotically, the equation shows that only the coefficient of the capital input is significant in this model. In exercise 14.9 you are asked to compare these results with those obtained from the multiplicative Cobb-Douglas production function as given in (14.1.2).
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