wooldridge: Wooldridge Estimation of Production Functions (Cobb-Douglas)

In estprod: Estimation of Production Functions

Description

This function aims the estimation of Cobb-Douglas production functions using Wooldridge (2009) method.

Usage

wooldridge(
  data,
  formula = y ~ free | capital | proxy | controls,
  gross = FALSE,
  id = "id",
  time = "year",
  bootstrap = FALSE,
  reps = 2,
  degree = c(3, 2),
  verify = TRUE,
  ...
)

Arguments

data	A data.frame or tibble containing the variables of the model.
formula	An object of the class formula.
gross	If TRUE dependent variable is gross output.
id	A character with the name of the indicator variable.
time	A character with the name of the time variable.
bootstrap	An optional logical. If TRUE calculate bootstrap standard errors.
reps	The number of bootstrap replications.
degree	A vector with the number of the polynomial interactions in each stage of the routine.
verify	Verify if inputs are sorted.
...	Additional arguments.

Details

Multipart formula must be specified in the following order: y ~ free | capital | proxy | controls. Additional controls are optional. It is possible to use more than one variable, although the use of more than one capital may not be theoretically identified. The function returns an object of the estprod or boot classes (if bootstrap is TRUE).

Examples

data(estprod_data)
wooldridge(data = estprod_data, var1 ~ var2 | var3 | var4, 
id = "id", time = "year", bootstrap = TRUE)

Example output

Wooldridge Production Function Estimator

Call
wooldridge(data = estprod_data, formula = var1 ~ var2 | var3 | 
    var4, id = "id", time = "year", bootstrap = TRUE)

Coefficients
       Estimate Std. Error z value  Pr(>|z|)    
var2 0.01812890 0.00080212  22.601 < 2.2e-16 ***
var3 0.05930153 0.00460782  12.870 < 2.2e-16 ***
---
Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1

#Bootstraped standard errors.

estprod documentation built on July 20, 2020, 5:07 p.m.