La función de producción Cobb – Douglas y la economía española

Abstract

This study examines the growing use of the concept Cobb - Douglas, based on Solow’s work, in work applied to the Spanish economy, related to the determination of the cyclical position and the contribution of production factors to growth. To this end we conducted a series of econometric contrasts for the period 1960 - 2010 which clearly show that the Cobb - Douglas does not reflect the connection between production and factors of production, and its use combined with the NAIRU distorts the analysis of the Spanish economy and, in particular, its cyclical position.