This study introduces and tests a new CES production function approach using data from five major branches of the Soviet industrial sector. The estimated equations obtained suggest that the Cobb-Douglas production function is the appropriate production function for all branches under...

The aim of this paper is to examine the stability of income elasticities used in Thirlwall's law to approximate a country's long-term growth and to see empirically how non-constancy will affect these predictions. For this purpose, three countries - Canada, New Zealand and the UK - are analysed,...