VÝBER PRODUKČNEJ FUNKCIE PRI ODHADE POTENCIÁLNEHO PRODUKTU

• Authors: Ochotnický Pavol

Title variants

EN

Production function choice by potential output estimation

• Languages of publication: SK

Abstracts

EN

The paper surveys and compares the main substitution production function types as one of the key components used by the estimations of potential output or output gap. Based on the theoretical classification of the production functions, Fuss-McFadden-Mundlak opinion and some empirical tests of the production functions in the Slovak Republic, EU countries and USA, the paper: (a) compares the possibility of using different substitution production functions by the potential output or output gap measurement/estimation, (b) evaluates the advantages and disadvantages of using three different basic production function models/groups. In addition, the paper encourages enhancement of the empirical research of production function use with the variable characteristics.

Keywords

EN

: PRODUCTION FUNCTION MODELS; POTENTIAL OUTPUT ESTIMATION; PRODUCTION GAP; SUBSTITUTION PRODUCTION FUNCTION

Discipline

• ECONOMICS: ECONOMICS

• Publisher: Institute of Slovak and World Economics and Institute for Forecasting, Slovak Academy of Sciences
• Journal: Ekonomický časopis (Journal of Economics)
• Year: 2008
• Volume: 56
• Issue: 8
• Pages: 800-815
• Document type: ARTICLE

Contributors

author

Ochotnický Pavol

• Ekonomická univerzita v Bratislave, Národohospodárska fakulta, Dolnozemská cesta 1, 852 35 Bratislava, Slovak Republic

• P. Ochotnicky, Ekonomicky ustav SAV, Sancova 56, 811 05 Bratislava 1, Slovak Republic

Identifiers

CEJSH db identifier

09SKAAAA05564