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In this approach different economic variables related to the business cycles, like employment and inflation rate are used and the estimation relies on the particular production function with specific assumption regarding technology.
Assuming that technical progress is Hicks-neutral the above aggregate production function can be rewritten as given in equation 2.
Before the production function can be estimated a functional form has to be given to the term A (t).
These SFMs consist of a production function and an inefficiency equation.
A production function describes the relation between output and the inputs to a given process.
Environmental Effects index for Production Function with Environmental Variable:
For instance, Barro acknowledges the public policies as production input and adds them to the production function (1990).
At first we describe stochastic frontier production function briefly.
If the elasticity of substitution were equal to one, the CES production function would reduce to the special-case Cobb-Douglas production function: Y = [K.
By a production function we mean a twice differentiable function f: D [subset] [R.

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