SEMAINE D ETUDE SUR LE ROLE DE L’ANALYSE ECONOMETRIQUE ETC.

XA

Here are the main results

“ABL

\ vera gr”

Average

rXNC

The estimates of ©, are of the same order of magnitude for
he United States from 1880 to 1956, and for the United States,
France and Great Britain : Get

2.

JUSTIFICATION OF THE EXPONENTIAL MODEL WITH RESPECT
TO ITS HYPOTHESIS

Hypothesis (d): The Relative Productivity of Primary Inputs

322. Hypothesis (d) (3) cannot be confirmed directly from
experience, and can only be justified by the concordance of
the conclusions flowing from it with observed data.
However, a priori, it seems intuitively reasonable to assume
 at least as a first approximation that production elasticities
decrease exponentially with time.
Further, this assumption is closely related to hypothesis (b,
of invariance of the function 3(8) over time. In fact, postulating
 the invariance of the capitalistic production function of
the productive system over time implies not merely the cons-‘ancv
 of the function 3(8), but, also, if we think it over, the fact

elow

Allais - pag. 125