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A TRANSCENDENTAL LOGARITHMIC COST FUNCTION: AN EMPIRICAL CASE (1981)

Apostolakis, Bobby

Oxford, UK : Blackwell Publishing Ltd

Metroeconomica 33 (1981), S. 0

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ISSN: 1467-999X

Source: Blackwell Publishing Journal Backfiles 1879-2005

Topics: Economics

Notes: This is a first attempt to study the way imports interact with the primary factors in the Italian technology. We use a two-output, three-input transcendental cost function specification and reject the traditional functions as being inappropriate in explaining the production process. We conclude that value-added is not produced exclusively by capital and labor and, also, that all inputs are substitutes for each other. The model justifies the incorporation of imports as a factor input.

Type of Medium: Electronic Resource

URL: http://dx.doi.org/10.1111/j.1467-999X.1981.tb00675.x

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