Open AccessJournal Article
A Theory of Production
Charles W. Cobb,Paul H. Douglas +1 more
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This article is published in The American Economic Review.The article was published on 1928-01-01 and is currently open access. It has received 1858 citations till now. The article focuses on the topics: Production theory & Cobb–Douglas production function.read more
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Getting Income Shares Right
TL;DR: The authors showed that the usual approach underestimates labor income in small firms, and several adjustments for calculating labor shares were identified and compared, yielding labor shares for most countries in the range of.65 −.80.
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Multicollinearity in Regression Analysis; the Problem Revisited
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Random Simultaneous Equations and the Theory of Production
TL;DR: In this paper, a system of simultaneous equations, expressed as many of them as there are variables, is used to describe and measure causation, and the experimenter can isolate one such equation, substituting his own action for all the other equations.
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The translog function and the substitution of equipment, structures, and labor in U.S. manufacturing 1929-68
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Hypothesis Testing and Multiplicative Interaction Terms
TL;DR: When a statistical equation incorporates a multiplicative term in an attempt to model interaction effects, the statistical significance of the lower-order coefficients is largely useless for the typical purposes of hypothesis testing.