[PDF] Top 20 Optimal Consumption in a Stochastic Ramsey Model with Cobb Douglas Production Function

... of consumption rate for a finite horizon with the assumption that the consumer has a logarithmic utility for his/her consumption ...flow model. The problem discussed in Oksendal [23] is related to ... See full document

... profit function approach combines the concepts of technical and allocative efficiency in the profit relationship and any errors in the production decision are assumed to be translated into lower profits or ... See full document

... neoclassic stochastic, discrete-time, two-sector growth model in which production of a unique homogeneous good depends on both physical and human capital through a Cobb-Douglas ... See full document

... neoclassic stochastic, discrete-time, two-sector growth model in which production of a unique homogeneous good depends on both physical and human capital through a Cobb-Douglas ... See full document

... comparing production efficiency of maize crops among smallholder farmers in Tabora and Ruvuma regions respectively, using maximum likelihood estimation (MLE) and ordinary least square (OLS) on ... See full document

... The stochastic Ramsey problem is considered in a growth model with the production function of a Cobb-Douglas ...the optimal consumption policy in terms of ... See full document

... A Cobb-Douglas stochastic frontier production analysis approach with the inefficiency effect model to estimate technical efficiency and identify the determinants of efficiency of teff ... See full document

... pork production functions verified most of the specified ...estimated model indicated that pork production in the cat- egory of the average daily increase in live weight is positively affected by the ... See full document

... the Cobb-Douglas production func- tion within the context of a stochastic production model of Marschak-Andrews ...The stochastic term in Cobb- Douglas type ... See full document

... nonlinear production functions namely Cobb-Douglas, CES and Translog production function ...and stochastic specifications of system of simultaneous equations for ... See full document

... Results of the maximum likelihood and inefficiency estimate is presented in Table 1. Farm size is aimed at capturing the effect of scale production on the technical efficiency of the farm. Earlier and empirical ... See full document

... A study on cross-section production functions and the elasticity of substitution in American manufacturing industry was done by C.E. Ferguson (1963). The author used international data from 19 countries and 24 ... See full document

... in sizeable welfare gains: a newborn individual in the baseline economy is willing to give up 1.51% of his annual consumption every period in order to be born in the economy where productivity is observable. Note ... See full document

... In general, Hoch's estimates tended to show a smaller bias and variance in larger samples and in models in which the variance of the "technical" disturbance was small compared to the var[r] ... See full document

... Eaton and Kortum [15] [16] combined the structure of technology diffusion and growth in Eaton and Kortum [20] with that of the Ricardian model elabo- rated by Dornbusch, Fisher and Samuelson [21]. The two authors ... See full document

... structural model using variation in Medicaid policies across states and finds that some groups of population are significantly less likely to work to be eligible for ... See full document

... rice production activities. Rice production is inextricably dependent on water ...rice production through double annual production ...rice production in the region (23% of the country ... See full document

... year, Cobb Douglass production function for ...Paul Douglas and Charles Cobb in a study where they modeled the US growth from 1899 to 1922 8 ... See full document

... In this paper, we present an analytically tractable general equilibrium business cycle model that incorporates micro-level convex and nonconvex adjustment costs. Recent empirical studies have documented that ... See full document

... bimaculatus, production at JOOUST cricket farm using parametric approach. Stochastic frontier analysis was used to analyze the data collected from the farm between ...cricket production at 1% and 5% ... See full document