Conclusion- The percentage of the increase in GDP is greater than that of the increase in capital stock and labor.
📌 3 Maddede Bu Makale
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Amaç & Hipotez:Purpose- In this paper, we investigate the Grey Cobb-Douglas production model applicable to estimation of economical indicators.
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Temel Bulgular & Veri:We are used the annual data of United State of American economy for 1951 to 2008 and estimated the 2009-2018 years.
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Sonuç & Katkı:Conclusion- The percentage of the increase in GDP is greater than that of the increase in capital stock and labor.
🔬Tür:Modelleme & Sayısal Simülasyon
📍Kapsam:2008 Verileri
⚙️Değişkenler:Cobb-Douglas production function · economic growth
Abstract
Purpose- In this paper, we investigate the Grey Cobb-Douglas production model applicable to estimation of economical indicators. Methodology- In the multi regression model, explanatory variables for estimation of future value of indicatiors is estimated by using Grey Cobb-Douglas model. Findings- GDP is an indicator for economic growth. We are used the annual data of United State of American economy for 1951 to 2008 and estimated the 2009-2018 years. The sum of the contributions of factors is 1.497 and greater than one, so it shows increasing return to scale. Conclusion- The percentage of the increase in GDP is greater than that of the increase in capital stock and labor.
Onalan, O., Basegmez, H. (2018). PREDICTION OF GROSS DOMESTIC PRODUCT (GDP) BY USING GREY COBB-DOUGLAS PRODUCTION FUNCTION. PressAcademia Procedia, Volume: 7 Issue: 1. https://doi.org/10.17261/Pressacademia.2018.850
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