On the interpretation of coefficients in multiplicative-logarithmic functions: a reconsideration
This paper shows that previous arguments about the problems in interpreting the coefficients in multiplicative-logarithmic functions, derived from an arbitrary rebasing of the series, are incorrect. In the specific case of the translog production function, the tests for the CES, Cobb-Douglas and constant returns to scale restrictions are shown to be invariant to any rescaling.
Year of publication: |
1998
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Authors: | Felipe, Jesus |
Published in: |
Applied Economics Letters. - Taylor & Francis Journals, ISSN 1350-4851. - Vol. 5.1998, 6, p. 397-400
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Publisher: |
Taylor & Francis Journals |
Saved in:
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