We introduce a new type of production function, called approximate Cobb-Douglas function, by a perturbation of Euler's partial differential equation characterizing homogeneous function. We show that ...

This is a preview. Log in through your library . Abstract In this note we are concerned with a technical point concerning the Cobb-Douglasfunction fitted to productivity data. We derive a new variance ...

It has been shown that under perfect competition and a Cobb-Douglas production function, a basic real business cycle model may exhibit indeterminacy and sunspot fluctuations when income tax rates are ...