1. If marginal product is decreasing, then average product must also be decreasing. 2. For a fixed-proportion technology, inputs cannot be substituted for each other in production. 3. The marginal ...
This is a preview. Log in through your library . Abstract Many growth models assume that aggregate output is generated by a Cobb-Douglas production function. In this article we question the empirical ...
Relating the Knowledge Production Function to Total Factor Productivity: An Endogenous Growth Puzzle
The knowledge production function is central to research and development-based growth models. This paper empirically investigates the knowledge production function and intertemporal spillover effects ...
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