“A THEORY OF PRODUCTION”1 THE ESTIMATION OF THE COBB-DOUGLAS FUNCTION: A RETROSPECTIVE VIEW Jesus Felipe Asian Development Bank and F. Gerard Adams Northeastern University As Solow once remarked ...
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...A theory of production the estimation cobb douglas function retrospective view jesus felipe asian development bank and f gerard adams northeastern university as solow once remarked to me we would not now be concerned with question had paul found labor s share american output twenty five per cent capital seventy instead other way around i hope that someone skilled in econometrics will audit evaluate my critical findings introduction despite honoring important contributions economics point arguing if nobel prizes been awarded h probably have received one before world war ii for his pioneering econometric attempts measure marginal productivities quantify demands factor inputs samuelson offered grave assessment empirical significance associated argument sketched is parameters what believed an aggregate may no more than outcome income distribution identity it ironic this same put forward very clearly by scholars well profession how ever ignored appeared phelps brown simon levy shaikh moreov...