The standard approach for fitting a Cobb-Douglas production function to micro data with zero values is to replace those values with "sufficiently small" numbers to facilitate the logarithmic transformation. In general, the estimates obtained are extremely sensitive to the transformation chosen, generating doubts about the use of a specification that assumes that all inputs are essential (as the Cobb-Douglas does) when that is not the case. The author...
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2000/12/31
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Рабочий документ в рамках исследования вопросов политики
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WPS2499
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1
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2010/07/01
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The treatment of non-essential inputs in a Cobb-Douglas technology : an application to Mexican rural household-level data
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production function