Sentence examples for aggregate production function from inspiring English sources

The model, therefore, consists of the inverse product market demand function in Equation (15), the aggregate production function in Equation (16), the inverse supply curve of capital in Equation (17), and the Armington aggregator in Equation (39).

One of the most widely used approaches to address this question development accounting combines measured inputs according to an aggregate production function and compares the estimated outputs to countries' observed gross domestic products (GDPs).

It's the marginal product of labor at that point — which, graphically, is the slope of the aggregate production function where it crosses the vertical blue line.

Start with the notion of an aggregate production function, which relates economy-wide output to economy-wide inputs of capital and labor.

These simulations uniformly use a linear homogeneous (and often a Cobb-Douglas) aggregate production function.

The aggregate production function, Q = f K, L), is assumed to be linear homogeneous.

Among the former, Cabredo and Valdivia (1999) and Seminario (2007) employ statistical filters and aggregate production functions; Miller (2003) uses a structural VAR; and Rodríguez (2010b, c) proposes a multivariate unobserved components model.

4Here I assume a wage elasticity of aggregate labor demand of −3.3 (as it would be with an aggregate Cobb-Douglas production function with labor share 0.7) and a wage elasticity of aggregate labor supply of one.

Finally, these estimates of the sustainable part of the different components of the production function aggregated using expression [6] to obtain sustainable growth and the output gap.

Suppose we have a CES production function for aggregate output that depends on just two types of labor (ignore capital), types a and b.

In that same year, Bloom et al. [23] estimated a production function, which aggregates capital stock, labour and human capital (education, experience and health) to conclude that there is a positive and statistical significant effect of health expenditure on economic growth.